Wells Fargo & Company Cuts Everest Group (NYSE:EG) Price Target to $304.00

Everest Group (NYSE:EG) had its price objective cut by research analysts at Wells Fargo & Company from $310.00 to $304.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 8.77% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Zacks Research raised shares of Everest Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Evercore set a $365.00 price target on shares of Everest Group in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods decreased their price objective on shares of Everest Group from $430.00 to $402.00 and set an “outperform” rating for the company in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everest Group in a report on Thursday, January 22nd. Finally, Cantor Fitzgerald cut their target price on Everest Group from $348.00 to $344.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Everest Group presently has an average rating of “Hold” and an average price target of $361.00.

Everest Group Stock Down 0.0%

EG stock traded down $0.02 during trading on Thursday, hitting $333.24. 24,217 shares of the company’s stock were exchanged, compared to its average volume of 358,111. The business has a 50-day moving average price of $329.80 and a two-hundred day moving average price of $330.28. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 0.24 and a beta of 0.34. Everest Group has a 52-week low of $302.44 and a 52-week high of $368.29.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Thursday, February 5th. The company reported $13.26 EPS for the quarter, missing the consensus estimate of $13.36 by ($0.10). Everest Group had a net margin of 9.09% and a return on equity of 12.50%. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the company earned ($18.39) earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities research analysts expect that Everest Group will post 47.93 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EG. Hsbc Holdings PLC boosted its stake in shares of Everest Group by 99.1% during the fourth quarter. Hsbc Holdings PLC now owns 74,073 shares of the company’s stock worth $25,274,000 after buying an additional 36,876 shares during the period. Worthington Financial Partners LLC acquired a new position in Everest Group in the 4th quarter valued at about $352,000. Reflection Asset Management acquired a new position in Everest Group in the 4th quarter valued at about $1,208,000. SG Trading Solutions LLC purchased a new stake in Everest Group during the 4th quarter valued at approximately $443,000. Finally, Cambient Family Office LLC purchased a new stake in Everest Group during the 4th quarter valued at approximately $252,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

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.