Credit Suisse Group AG (CS) Trading 4% Higher
Credit Suisse Group AG (NYSE:CS) traded up 4% on Thursday . The stock traded as high as $11.37 and last traded at $11.31, with a volume of 5,057,319 shares traded. The stock had previously closed at $10.87.
Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Credit Suisse Group AG in a report on Tuesday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Credit Suisse Group AG in a report on Thursday, March 31st. Sanford C. Bernstein assumed coverage on Credit Suisse Group AG in a report on Monday, July 11th. They issued an “underperform” rating for the company. Bank of America Corp. upgraded Credit Suisse Group AG from an “underperform” rating to a “neutral” rating in a report on Friday, May 20th. Finally, Barclays PLC cut Credit Suisse Group AG to a “hold” rating in a research note on Monday, June 27th. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Credit Suisse Group AG has a consensus rating of “Hold” and an average price target of $17.28.
The company’s market capitalization is $22.05 billion. The stock’s 50-day moving average price is $12.02 and its 200 day moving average price is $14.60.
Credit Suisse Group AG (NYSE:CS) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.07. The business earned $4.75 billion during the quarter, compared to the consensus estimate of $24.24 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. Credit Suisse Group AG’s revenue was down 26.6% compared to the same quarter last year. On average, equities analysts forecast that Credit Suisse Group AG will post $0.65 EPS for the current fiscal year.
Several hedge funds and institutional investors have added to or reduced their stakes in CS. Brandes Investment Partners LP boosted its position in Credit Suisse Group AG by 121.4% in the fourth quarter. Brandes Investment Partners LP now owns 2,949,132 shares of the company’s stock worth $63,967,000 after buying an additional 1,617,311 shares in the last quarter. Wells Fargo & Company MN boosted its position in Credit Suisse Group AG by 141.9% in the fourth quarter. Wells Fargo & Company MN now owns 914,026 shares of the company’s stock worth $19,825,000 after buying an additional 536,219 shares in the last quarter. Finally, Comerica Bank boosted its position in Credit Suisse Group AG by 19.3% in the fourth quarter. Comerica Bank now owns 105,395 shares of the company’s stock worth $2,064,000 after buying an additional 17,086 shares in the last quarter.
Credit Suisse Group AG (Credit Suisse) is a global financial services company. The Company operates in three segments: Private Banking & Wealth Management and Investment Banking. Private Banking & Wealth Management offers advice and a range of financial solutions to private, corporate and institutional clients.
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