Credit Suisse Group (NYSE:CS) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $17.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.88% from the stock’s current price.
According to Zacks, “CREDIT SUISSE GROUP and Winterthur offer investment products, private banking and financial advisory services, as well as insurance and pension solutions. Credit Suisse First Boston provides securities underwriting, sales and trading, financial advisory, investment research, venture capital and asset management services. Because they specialize in gaining a deep understanding of their clients’ financial needs, they know that no one’s needs are two-dimensional. 360° Choice. “
CS has been the subject of a number of other reports. ValuEngine lowered shares of Credit Suisse Group from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Deutsche Bank reaffirmed a “buy” rating on shares of Credit Suisse Group in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. Credit Suisse Group presently has an average rating of “Buy” and a consensus target price of $17.00.
Shares of CS stock traded up $0.20 during mid-day trading on Tuesday, reaching $15.06. The company’s stock had a trading volume of 1,992,900 shares, compared to its average volume of 2,540,168. Credit Suisse Group has a 12-month low of $14.37 and a 12-month high of $19.98. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 3.81. The company has a market cap of $37.85 billion, a PE ratio of 27.89 and a beta of 1.34.
Credit Suisse Group (NYSE:CS) last issued its earnings results on Tuesday, July 31st. The financial services provider reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.04). Credit Suisse Group had a negative net margin of 1.51% and a positive return on equity of 4.31%. The business had revenue of $5.68 billion during the quarter. equities research analysts expect that Credit Suisse Group will post 1.25 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. grew its holdings in Credit Suisse Group by 10.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 32,175 shares of the financial services provider’s stock valued at $540,000 after purchasing an additional 3,110 shares in the last quarter. Advisor Partners LLC grew its holdings in Credit Suisse Group by 31.1% during the 1st quarter. Advisor Partners LLC now owns 13,438 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 3,186 shares in the last quarter. Thomas White International Ltd. grew its holdings in Credit Suisse Group by 1.8% during the 2nd quarter. Thomas White International Ltd. now owns 194,295 shares of the financial services provider’s stock worth $2,891,000 after acquiring an additional 3,476 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in Credit Suisse Group by 30.1% during the 2nd quarter. 180 Wealth Advisors LLC now owns 17,442 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 4,033 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Credit Suisse Group by 3.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 134,003 shares of the financial services provider’s stock worth $1,994,000 after acquiring an additional 4,058 shares in the last quarter. 3.26% of the stock is owned by institutional investors and hedge funds.
About Credit Suisse Group
Credit Suisse Group AG, together with its subsidiaries, provides various financial services worldwide. It operates through six segments: Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, and Strategic Resolution Unit. The company offers private banking and wealth management solutions, including advisory, investment, financial planning, succession planning, and trust services; and financing and lending, and multi-shore platform solutions.
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