Zacks Investment Research upgraded shares of KBC Group (OTCMKTS:KBCSY) from a hold rating to a buy rating in a research report sent to investors on Friday morning, Zacks.com reports. Zacks Investment Research currently has $47.00 price objective on the stock.
According to Zacks, “KBC Group NV is an integrated bank-insurance group, catering mainly for retail, private banking, SME and mid-cap clients. Its operating segment consists of Belgium Business, Czech Republic Business, International Markets Business and Group Centre. The Belgium Business segment engages in the retail and private banc assurance activities. The Czech Republic Business segment comprises all KBC’s activities. The Group Centre segment includes the operating results of the group’s holding-company activities. The International Markets Business segment comprises the activities conducted by entities in the other Central and Eastern European core countries. KBC Group NV is headquartered in Brussels, Belgium. “
A number of other research analysts also recently issued reports on the company. Credit Suisse Group raised their price target on KBC Group from €67.00 ($78.82) to €70.00 ($82.35) and gave the stock a neutral rating in a research note on Friday, August 6th. JPMorgan Chase & Co. lifted their target price on KBC Group from €72.00 ($84.71) to €79.00 ($92.94) and gave the company an overweight rating in a research note on Friday, August 6th. HSBC upgraded KBC Group to a buy rating in a research note on Friday, May 28th. Cheuvreux upgraded KBC Group from a reduce rating to a hold rating in a research note on Tuesday, July 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded KBC Group to a hold rating and lifted their target price for the company from €64.00 ($75.29) to €66.00 ($77.65) in a research note on Thursday, July 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, KBC Group presently has a consensus rating of Hold and an average target price of $65.99.
KBC Group (OTCMKTS:KBCSY) last issued its earnings results on Thursday, August 5th. The company reported $1.13 earnings per share for the quarter. KBC Group had a return on equity of 11.89% and a net margin of 29.36%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.14 billion. On average, sell-side analysts forecast that KBC Group will post 3.51 earnings per share for the current year.
KBC Group Company Profile
KBC Group NV engages in the provision of integrated bank-insurances. It operates through the following segments: Belgium Business; Czech Republic Business; and International Markets Business Unit. The Belgium Business segment engages in the retail and private banc assurance activities in Belgium. The Czech Republic Business segment comprises all KBC’s activities in the Czech Republic.
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