Everest Group (NYSE:EG) Issues Quarterly Earnings Results
by Renee Jackson · The Cerbat GemEverest Group (NYSE:EG – Get Free Report) posted its earnings results on Wednesday. The company reported $16.08 EPS for the quarter, topping the consensus estimate of $15.13 by $0.95, FiscalAI reports. Everest Group had a net margin of 9.09% and a return on equity of 12.50%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the firm posted $6.45 earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year.
Everest Group Stock Performance
NYSE:EG traded down $3.48 during midday trading on Wednesday, reaching $343.60. The stock had a trading volume of 349,491 shares, compared to its average volume of 356,759. Everest Group has a 1-year low of $302.44 and a 1-year high of $368.29. The firm’s fifty day simple moving average is $332.98 and its 200-day simple moving average is $329.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $17.09 billion, a P/E ratio of 9.08, a PEG ratio of 0.26 and a beta of 0.34.
Everest Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a $2.00 dividend. The ex-dividend date was Friday, March 13th. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. Everest Group’s dividend payout ratio (DPR) is presently 21.13%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Sivia Capital Partners LLC acquired a new position in Everest Group in the 2nd quarter valued at $384,000. State of Wyoming grew its position in Everest Group by 148.7% in the 2nd quarter. State of Wyoming now owns 694 shares of the company’s stock worth $236,000 after purchasing an additional 415 shares during the last quarter. Olympiad Research LP acquired a new stake in Everest Group in the 4th quarter worth $230,000. Wealthspire Advisors LLC grew its position in Everest Group by 4,160.0% in the 4th quarter. Wealthspire Advisors LLC now owns 639 shares of the company’s stock worth $217,000 after purchasing an additional 624 shares during the last quarter. Finally, Axxcess Wealth Management LLC acquired a new stake in Everest Group in the 4th quarter worth $210,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently commented on EG. Cantor Fitzgerald dropped their price target on shares of Everest Group from $348.00 to $344.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research note on Thursday, January 22nd. Bank of America increased their price target on shares of Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Wells Fargo & Company increased their price target on shares of Everest Group from $304.00 to $332.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Finally, Mizuho increased their price target on shares of Everest Group from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $366.14.
Get Our Latest Research Report on Everest Group
Everest Group Company Profile
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.