Everest Group (NYSE:EG) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Everest Group (NYSE:EG) announced its earnings results on Wednesday. The company reported $13.26 earnings per share for the quarter, missing analysts’ consensus estimates of $13.36 by ($0.10), Zacks reports. Everest Group had a net margin of 9.09% and a return on equity of 12.63%. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the firm posted ($18.39) EPS. The company’s revenue for the quarter was down 4.6% on a year-over-year basis.

Everest Group Stock Performance

EG stock opened at $325.61 on Friday. The business has a 50-day moving average price of $326.83 and a 200 day moving average price of $332.55. Everest Group has a 1-year low of $302.44 and a 1-year high of $370.20. The company has a market capitalization of $13.67 billion, a P/E ratio of 8.60, a PEG ratio of 0.23 and a beta of 0.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.39 and a quick ratio of 0.39.

Analyst Upgrades and Downgrades

EG has been the subject of a number of recent research reports. Zacks Research raised shares of Everest Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Barclays increased their price target on shares of Everest Group from $365.00 to $377.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Cantor Fitzgerald decreased their price objective on shares of Everest Group from $348.00 to $344.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Wells Fargo & Company reduced their price target on shares of Everest Group from $343.00 to $332.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. Finally, Wolfe Research raised Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Everest Group presently has an average rating of “Hold” and an average target price of $364.64.

Institutional Investors Weigh In On Everest Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CYBER HORNET ETFs LLC purchased a new stake in shares of Everest Group during the 2nd quarter valued at $39,000. MUFG Securities EMEA plc purchased a new stake in shares of Everest Group in the 2nd quarter valued at $43,000. Brown Brothers Harriman & Co. grew its position in Everest Group by 57.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 134 shares of the company’s stock worth $47,000 after purchasing an additional 49 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in Everest Group during the third quarter worth about $57,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Everest Group by 98.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

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.