Equities researchers at Morgan Stanley initiated coverage on shares of Credit Suisse Group (NYSE:CS – Get Rating) in a research report issued to clients and investors on Friday, The Fly reports. The brokerage set an “equal weight” rating on the financial services provider’s stock.
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Several other equities research analysts also recently issued reports on CS. StockNews.com downgraded Credit Suisse Group from a “hold” rating to a “sell” rating in a report on Friday, December 16th. Societe Generale lowered their price target on shares of Credit Suisse Group from CHF 5.50 to CHF 4.20 in a report on Wednesday, October 5th. Bank Of America (Bofa) upgraded Credit Suisse Group from a “neutral” rating to a “buy” rating and set a CHF 3.60 price objective for the company in a report on Friday, December 9th. Barclays lowered their target price on Credit Suisse Group from CHF 4 to CHF 2.90 and set an “underweight” rating on the stock in a research note on Friday, January 13th. Finally, JPMorgan Chase & Co. reduced their price target on Credit Suisse Group from CHF 5.50 to CHF 3.80 and set a “neutral” rating for the company in a research note on Thursday, December 1st. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.70.
Credit Suisse Group Stock Up 2.9 %
Credit Suisse Group stock opened at $3.57 on Friday. Credit Suisse Group has a fifty-two week low of $2.97 and a fifty-two week high of $10.09. The firm has a market capitalization of $11.11 billion, a PE ratio of -1.12 and a beta of 1.33. The company’s 50-day moving average is $3.36 and its 200-day moving average is $4.38. The company has a debt-to-equity ratio of 3.74, a current ratio of 1.38 and a quick ratio of 1.38.
Credit Suisse Group (NYSE:CS – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The financial services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Credit Suisse Group had a negative net margin of 38.02% and a negative return on equity of 3.82%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.80 billion. Sell-side analysts anticipate that Credit Suisse Group will post -1.91 earnings per share for the current year.
Hedge Funds Weigh In On Credit Suisse Group
Several hedge funds have recently bought and sold shares of the company. Veriti Management LLC increased its stake in Credit Suisse Group by 29.0% in the fourth quarter. Veriti Management LLC now owns 76,890 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 17,271 shares during the last quarter. Chicago Capital LLC bought a new position in shares of Credit Suisse Group in the 4th quarter valued at $76,000. Brave Asset Management Inc. acquired a new position in shares of Credit Suisse Group during the 4th quarter worth $79,000. Shah Capital Management bought a new stake in shares of Credit Suisse Group during the 4th quarter worth $20,064,000. Finally, Bank of New York Mellon Corp boosted its stake in Credit Suisse Group by 6.8% in the third quarter. Bank of New York Mellon Corp now owns 49,762 shares of the financial services provider’s stock valued at $195,000 after buying an additional 3,164 shares in the last quarter. 11.20% of the stock is owned by institutional investors.
About Credit Suisse Group
Credit Suisse Group AG, together with its subsidiaries, provides various financial services in Switzerland, Europe, the Middle East, Africa, the Americas, and Asia Pacific. The company offers wealth management solutions, including investment advice and discretionary asset management services; risk management solutions, such as managed investment products; and wealth planning, succession planning, and trust services.
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