Castings (LON:CGS) Announces Earnings Results

Castings (LON:CGS) issued its quarterly earnings results on Wednesday. The company reported GBX 3.48 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Castings had a return on equity of 5.98% and a net margin of 4.36%. The company had revenue of GBX 8,595 million for the quarter.

Castings Price Performance

Shares of CGS traded up GBX 12.05 during mid-day trading on Thursday, hitting GBX 277.05. 38,581 shares of the company were exchanged, compared to its average volume of 37,447. Castings has a 1-year low of GBX 202.28 and a 1-year high of GBX 340. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.76 and a current ratio of 3.36. The company has a 50 day moving average of GBX 282.51 and a 200-day moving average of GBX 282.97. The stock has a market cap of £120.45 million, a price-to-earnings ratio of 16.06 and a beta of 0.44.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 390 target price on shares of Castings in a research note on Wednesday. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of GBX 390.

Castings Company Profile

Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.