Wells Fargo & Company Has Lowered Expectations for Everest Group (NYSE:EG) Stock Price
by Scott Moore · The Cerbat GemEverest Group (NYSE:EG – Get Free Report) had its target price lowered by equities research analysts at Wells Fargo & Company from $310.00 to $304.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 8.77% from the company’s current price.
A number of other brokerages have also issued reports on EG. Barclays boosted their price target on shares of Everest Group from $377.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday. Mizuho set a $360.00 price objective on Everest Group in a report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a research report on Thursday, January 22nd. Evercore set a $365.00 target price on Everest Group in a research note on Wednesday, January 7th. Finally, Zacks Research raised Everest Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $361.00.
Check Out Our Latest Analysis on EG
Everest Group Stock Performance
NYSE:EG traded down $0.02 during midday trading on Thursday, reaching $333.24. The stock had a trading volume of 24,217 shares, compared to its average volume of 358,111. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.23. The stock has a market cap of $13.46 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.24 and a beta of 0.34. The firm has a fifty day simple moving average of $329.80 and a two-hundred day simple moving average of $330.28. Everest Group has a 12-month low of $302.44 and a 12-month high of $368.29.
Everest Group (NYSE:EG – Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $13.26 EPS for the quarter, missing analysts’ consensus estimates of $13.36 by ($0.10). Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the company posted ($18.39) EPS. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, equities analysts expect that Everest Group will post 47.93 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in EG. Root Financial Partners LLC acquired a new stake in shares of Everest Group during the 3rd quarter valued at approximately $30,000. Activest Wealth Management purchased a new stake in shares of Everest Group during the 4th quarter worth approximately $34,000. Raiffeisen Bank International AG acquired a new stake in shares of Everest Group in the 4th quarter worth approximately $34,000. UMB Bank n.a. grew its holdings in shares of Everest Group by 81.4% in the 3rd quarter. UMB Bank n.a. now owns 107 shares of the company’s stock worth $37,000 after acquiring an additional 48 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in Everest Group in the 4th quarter valued at approximately $37,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.
About Everest Group
Everest Group (NYSE:EG) is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.
With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.