Koninklijke Philips (NYSE:PHG) Price Target Lowered to €46.00 at Barclays

Koninklijke Philips (NYSE:PHG) had its target price dropped by equities research analysts at Barclays from €51.50 ($58.52) to €46.00 ($52.27) in a research note issued on Friday, The Fly reports.

A number of other research firms have also recently weighed in on PHG. Credit Suisse Group reiterated a “neutral” rating on shares of Koninklijke Philips in a research note on Monday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Koninklijke Philips from €36.00 ($40.91) to €35.00 ($39.77) in a research report on Monday. Zacks Investment Research lowered shares of Koninklijke Philips from a “hold” rating to a “strong sell” rating and set a $39.00 price target on the stock. in a research report on Tuesday, September 28th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Koninklijke Philips in a research report on Tuesday, October 19th. Finally, HSBC raised shares of Koninklijke Philips from a “hold” rating to a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $40.00.

PHG traded up $0.34 during midday trading on Friday, reaching $34.38. The company had a trading volume of 230,610 shares, compared to its average volume of 1,679,054. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.71 and a current ratio of 1.08. The stock has a market cap of $31.12 billion, a PE ratio of 7.30, a P/E/G ratio of 1.28 and a beta of 0.88. Koninklijke Philips has a 12-month low of $32.69 and a 12-month high of $61.23. The business has a 50-day moving average price of $38.05 and a two-hundred day moving average price of $43.27.

Koninklijke Philips (NYSE:PHG) last released its earnings results on Sunday, October 17th. The technology company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.10). The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Koninklijke Philips had a net margin of 20.44% and a return on equity of 13.68%. The firm’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, research analysts anticipate that Koninklijke Philips will post 2.26 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Koninklijke Philips by 4.9% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 5,037 shares of the technology company’s stock valued at $224,000 after purchasing an additional 237 shares in the last quarter. Cedar Brook Financial Partners LLC lifted its holdings in Koninklijke Philips by 4.7% in the second quarter. Cedar Brook Financial Partners LLC now owns 5,382 shares of the technology company’s stock valued at $267,000 after acquiring an additional 242 shares during the period. Park Avenue Securities LLC lifted its holdings in Koninklijke Philips by 1.9% in the third quarter. Park Avenue Securities LLC now owns 13,231 shares of the technology company’s stock valued at $588,000 after acquiring an additional 246 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Koninklijke Philips by 1.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 16,701 shares of the technology company’s stock valued at $742,000 after acquiring an additional 251 shares during the period. Finally, Commerce Bank lifted its holdings in Koninklijke Philips by 2.9% in the third quarter. Commerce Bank now owns 8,818 shares of the technology company’s stock valued at $392,000 after acquiring an additional 251 shares during the period. 8.48% of the stock is currently owned by institutional investors and hedge funds.

About Koninklijke Philips

Koninklijke Philips NV is a technology company, which engages in the healthcare, lighting, and consumer well-being markets. It operates through the following segments: Personal Health, Diagnosis & Treatment, Connected Care & Health Informatics, and Other. The Personal Health segment focuses on healthy living and preventative care.

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