CMC Markets (LON:CMCX) Trading 28.9% Higher on Analyst Upgrade

CMC Markets Plc (LON:CMCX) shot up 28.9% on Thursday after Shore Capital upgraded the stock to a buy rating. Shore Capital now has a GBX 330 price target on the stock, up from their previous price target of GBX 280. CMC Markets traded as high as GBX 271.50 and last traded at GBX 267.50. 12,959,912 shares were traded during mid-day trading, an increase of 1,846% from the average session volume of 666,025 shares. The stock had previously closed at GBX 207.50.

Separately, Panmure Gordon lifted their price objective on shares of CMC Markets from GBX 240 to GBX 260 and gave the stock a “hold” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, CMC Markets currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 295.

Insiders Place Their Bets

In other news, insider David Fineberg bought 134 shares of the stock in a transaction on Monday, October 6th. The shares were purchased at an average cost of GBX 225 per share, for a total transaction of £301.50. Company insiders own 64.11% of the company’s stock.

CMC Markets Stock Performance

The company’s 50-day moving average is GBX 218.70 and its two-hundred day moving average is GBX 236.09. The company has a market capitalization of £728.91 million, a P/E ratio of 11.84 and a beta of 0.51. The company has a quick ratio of 2.47, a current ratio of 2.18 and a debt-to-equity ratio of 4.19.

CMC Markets (LON:CMCX) last announced its earnings results on Thursday, November 20th. The company reported GBX 13.30 earnings per share (EPS) for the quarter. CMC Markets had a net margin of 95.92% and a return on equity of 86.11%. Equities analysts anticipate that CMC Markets Plc will post 20.9884902 earnings per share for the current fiscal year.

CMC Markets Company Profile

CMC is a leading global provider of online trading and investing, with a comprehensive retail, professional and institutional offering.
The business was started in 1989 with a simple ethos: to make financial markets truly accessible for investors. We are proud of our strong heritage and our successful 30-year track record as an innovator at the forefront of enabling digital trading for our clients.