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 traded.
A number of equities research analysts recently issued reports on CS shares. Bank of America Corp. reiterated a “sell” rating and set a $14.00 target price on shares of Credit Suisse Group AG in a research report on Sunday, March 27th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Credit Suisse Group AG in a research report on Thursday, March 31st. BNP Paribas cut shares of Credit Suisse Group AG from a “neutral” rating to an “underperform” rating in a research report on Tuesday, April 5th. Barclays PLC cut shares of Credit Suisse Group AG from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $19.00 to $14.00 in a research report on Thursday, June 9th. Finally, Keefe, Bruyette & Woods cut shares of Credit Suisse Group AG from an “outperform” rating to a “market perform” rating in a research report on Monday, June 13th. 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 company. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.28.
The firm has a 50-day moving average of $11.75 and a 200-day moving average of $14.28. The stock’s market cap is $22.46 billion.
Credit Suisse Group AG (NYSE:CS) last posted 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. During the same period last year, the company earned $0.79 earnings per share. The company had revenue of $4.75 billion for the quarter, compared to analyst estimates of $24.24 billion. The firm’s revenue for the quarter was down 26.6% compared to the same quarter last year. On average, equities research analysts forecast that Credit Suisse Group AG will post $0.65 earnings per share for the current fiscal year.
Other large investors have recently bought and sold shares of the company. Comerica Bank boosted 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 valued at $2,064,000 after buying an additional 17,086 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of 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 valued at $19,825,000 after buying an additional 536,219 shares during the last quarter. Finally, Brandes Investment Partners LP increased its position in shares of 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 valued at $63,967,000 after buying an additional 1,617,311 shares during 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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