Royal Bank of Canada Downgrades CAIRN ENERGY PL/ADR (CRNCY) to Sector Perform
CAIRN ENERGY PL/ADR (OTCMKTS:CRNCY) was downgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Friday, The Fly reports.
CRNCY has been the topic of several other research reports. Zacks Investment Research raised CAIRN ENERGY PL/ADR from a “sell” rating to a “hold” rating in a report on Friday, January 18th. Morgan Stanley raised CAIRN ENERGY PL/ADR from an “underweight” rating to an “equal weight” rating in a report on Tuesday, January 15th. Jefferies Financial Group raised CAIRN ENERGY PL/ADR from an “underperform” rating to a “hold” rating in a report on Friday, December 14th. Finally, BMO Capital Markets raised CAIRN ENERGY PL/ADR from a “market perform” rating to an “outperform” rating in a report on Friday, January 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $5.50.
OTCMKTS CRNCY opened at $4.74 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.72 and a current ratio of 2.75. CAIRN ENERGY PL/ADR has a twelve month low of $3.52 and a twelve month high of $7.23. The firm has a market cap of $1.36 billion, a P/E ratio of 5.33 and a beta of 1.73.
Cairn Energy PLC operates as an oil and gas exploration and production company. It holds a portfolio of exploration, development, and production assets in the United Kingdom; Norway; Mexico; and the Atlantic Margin, including Senegal and the Republic of Ireland. The company was incorporated in 2002 and is headquartered in Edinburgh, the United Kingdom.
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