Credit Suisse Group (NYSE:CS) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Credit Suisse Group (NYSE:CS) from a hold rating to a sell rating in a report issued on Wednesday, July 24th, ValuEngine reports.

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Credit Suisse Group from a strong-buy rating to a hold rating in a report on Monday, July 22nd. BMO Capital Markets assumed coverage on Credit Suisse Group in a report on Friday, July 5th. They issued a market perform rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Credit Suisse Group presently has an average rating of Hold and a consensus price target of $14.50.

CS traded up $0.27 during trading on Wednesday, reaching $11.27. 2,662,700 shares of the company’s stock were exchanged, compared to its average volume of 2,782,163. The company has a market capitalization of $28.26 billion, a P/E ratio of 13.42, a PEG ratio of 0.43 and a beta of 1.40. The business has a 50 day moving average price of $11.94 and a 200 day moving average price of $12.04. Credit Suisse Group has a fifty-two week low of $10.23 and a fifty-two week high of $15.99. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 3.60.

Credit Suisse Group (NYSE:CS) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The company had revenue of $5.57 billion during the quarter. Credit Suisse Group had a return on equity of 5.46% and a net margin of 7.09%. As a group, research analysts forecast that Credit Suisse Group will post 1.33 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund purchased a new stake in Credit Suisse Group during the fourth quarter worth approximately $1,221,000. Geode Capital Management LLC grew its stake in Credit Suisse Group by 109.8% during the fourth quarter. Geode Capital Management LLC now owns 36,893 shares of the financial services provider’s stock worth $400,000 after buying an additional 19,305 shares during the period. Two Sigma Advisers LP grew its stake in Credit Suisse Group by 38.7% during the fourth quarter. Two Sigma Advisers LP now owns 816,100 shares of the financial services provider’s stock worth $8,863,000 after buying an additional 227,900 shares during the period. Zacks Investment Management purchased a new stake in Credit Suisse Group during the fourth quarter worth approximately $109,000. Finally, Squarepoint Ops LLC purchased a new stake in Credit Suisse Group during the fourth quarter worth approximately $493,000. 2.67% of the stock is owned by institutional investors and hedge funds.

About Credit Suisse Group

Credit Suisse Group AG, through its subsidiaries, provides various financial services worldwide. It operates through Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, and Investment Banking & Capital Markets segments. 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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Analyst Recommendations for Credit Suisse Group (NYSE:CS)

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