Credit Suisse Group AG (CS) Shares Gap Up to $11.57
Credit Suisse Group AG (NYSE:CS) gapped up before the market opened on Thursday . The stock had previously closed at $11.56, but opened at $11.57. Credit Suisse Group AG shares last traded at $11.61, with a volume of 1,507,828 shares trading hands.
A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Credit Suisse Group AG in a research report on Monday, July 11th. They set an “underperform” rating for the company. Keefe, Bruyette & Woods restated a “buy” rating on shares of Credit Suisse Group AG in a report on Tuesday, June 28th. Royal Bank Of Canada cut shares of Credit Suisse Group AG from an “outperform” rating to a “sector perform” rating in a report on Tuesday, June 28th. Barclays PLC cut shares of Credit Suisse Group AG to a “hold” rating in a report on Monday, June 27th. Finally, JPMorgan Chase & Co. cut shares of Credit Suisse Group AG from a “neutral” rating to an “underweight” rating in a report on Monday, June 27th. Six analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.28.
The firm has a 50 day moving average of $11.81 and a 200 day moving average of $14.35. The company’s market capitalization is $22.60 billion.
Credit Suisse Group AG (NYSE:CS) last posted its earnings results on Tuesday, May 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.07. During the same period in the previous year, the business posted $0.79 earnings per share. The company had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $24.24 billion. The business’s quarterly revenue was down 26.6% on a year-over-year basis. Analysts expect that Credit Suisse Group AG will post $0.65 earnings per share for the current fiscal year.
A number of hedge funds have bought and sold shares of CS. Comerica Bank increased its stake 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 during the period. Wells Fargo & Company MN increased its stake 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 during the period. Finally, Brandes Investment Partners LP increased its stake 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 during the period.
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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