Everest Group (NYSE:EG) Price Target Raised to $380.00

Everest Group (NYSE:EG) had its target price hoisted by Barclays from $377.00 to $380.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company cut their price target on Everest Group from $332.00 to $310.00 and set an “equal weight” rating on the stock in a report on Friday, February 6th. Zacks Research upgraded Everest Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Keefe, Bruyette & Woods cut their price target on Everest Group from $430.00 to $402.00 and set an “outperform” rating on the stock in a report on Tuesday. Evercore set a $365.00 price target on Everest Group in a report on Wednesday, January 7th. Finally, Cantor Fitzgerald cut their price target on Everest Group from $348.00 to $344.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $356.85.

Everest Group Price Performance

EG stock opened at $329.95 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $13.33 billion, a PE ratio of 8.72, a P/E/G ratio of 0.25 and a beta of 0.34. Everest Group has a 12-month low of $302.44 and a 12-month high of $368.29. The business’s fifty day moving average price is $329.90 and its 200 day moving average price is $330.28.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Thursday, February 5th. The company reported $13.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $13.36 by ($0.10). The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $3.97 billion. Everest Group had a net margin of 9.09% and a return on equity of 12.50%. Everest Group’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($18.39) EPS. On average, sell-side analysts anticipate that Everest Group will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, March 13th. Everest Group’s dividend payout ratio is currently 21.13%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EG. Root Financial Partners LLC acquired a new position in shares of Everest Group during the 3rd quarter worth about $30,000. Activest Wealth Management acquired a new position in shares of Everest Group during the 4th quarter worth about $34,000. Raiffeisen Bank International AG acquired a new position in shares of Everest Group during the 4th quarter worth about $34,000. UMB Bank n.a. boosted its position in shares of Everest Group by 81.4% during the 3rd quarter. UMB Bank n.a. now owns 107 shares of the company’s stock worth $37,000 after acquiring an additional 48 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Everest Group during the 4th quarter worth about $37,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Company Profile

Everest Group (NYSE:EG) is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.

With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.