Clarkson (LON:CKN) Share Price Breaks Above 200-Day Moving Average – What’s Next?

Clarkson PLC (LON:CKN)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 4,834.71 and traded as high as GBX 5,215. Clarkson shares last traded at GBX 4,966, with a volume of 39,471 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CKN. Berenberg Bank boosted their price objective on shares of Clarkson from GBX 5,925 to GBX 6,025 and gave the company a “buy” rating in a research report on Wednesday, October 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 5,550 target price on shares of Clarkson in a research report on Thursday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Clarkson from GBX 4,950 to GBX 5,300 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 5,281.25.

Clarkson Stock Performance

The company has a market capitalization of £1.53 billion, a PE ratio of 19.82 and a beta of 0.70. The company has a 50 day moving average of GBX 5,090.41 and a two-hundred day moving average of GBX 4,835.60. The company has a debt-to-equity ratio of 10.87, a current ratio of 1.69 and a quick ratio of 1.69.

Clarkson (LON:CKN) last posted its quarterly earnings data on Monday, August 3rd. The company reported GBX 147.60 earnings per share (EPS) for the quarter. Clarkson had a return on equity of 14.50% and a net margin of 10.40%. As a group, equities research analysts predict that Clarkson PLC will post 283.01 earnings per share for the current year.

About Clarkson

Clarkson PLC provides integrated shipping services worldwide. The company's Broking segment offers services to shipowners and charterers in the transportation of various cargoes by sea; and to buyers and sellers/yards related to sale and purchase transactions, as well as futures broking operation. Its Financial segment provides investment banking services for maritime, oil services, and natural resources sectors; structured asset finance services and projects in the shipping, offshore, and real estate sectors; and project finance and bespoke asset finance solutions.