KBC Group (OTCMKTS:KBCSY) Shares Gap Down – What’s Next?

KBC Group SA (OTCMKTS:KBCSY) shares gapped down before the market opened on Friday. The stock had previously closed at $73.54, but opened at $69.89. KBC Group shares last traded at $70.2655, with a volume of 1,752 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KBCSY. Citigroup restated a “neutral” rating on shares of KBC Group in a report on Tuesday. Royal Bank Of Canada reiterated a “sector perform” rating on shares of KBC Group in a report on Monday, August 10th. Finally, Jefferies Financial Group initiated coverage on KBC Group in a research report on Wednesday, September 16th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

KBC Group Trading Down 1.1%

The company has a market capitalization of $58.51 billion, a PE ratio of 13.32, a PEG ratio of 0.93 and a beta of 0.64. The business has a fifty day moving average of $74.76 and a 200 day moving average of $69.09.

KBC Group (OTCMKTS:KBCSY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. KBC Group had a net margin of 15.58% and a return on equity of 13.42%. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.83 billion. Equities analysts forecast that KBC Group SA will post 5.85 EPS for the current fiscal year.

About KBC Group

KBC Group is a Belgium-based financial services group that combines banking and insurance activities. Through its banking and insurance subsidiaries, the company serves individuals, households, small and medium-sized enterprises, corporate clients and private banking customers.

KBC’s main services include current and savings accounts, consumer and residential lending, business finance, investment and wealth management, payments, and a range of life and non-life insurance products. The group distributes its services through bank branches, insurance agencies and digital channels, including integrated banking and insurance platforms.

The group was created in 1998 through the merger of Kredietbank, CERA Bank and ABB Insurance.