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

CMC Markets Plc (LON:CMCX)’s stock price shot up 28.9% during trading 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 traded hands 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 raised their target price on CMC Markets from GBX 240 to GBX 260 and gave the stock a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 295.

Insider Activity at CMC Markets

In related news, insider David Fineberg bought 134 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were bought at an average cost of GBX 225 per share, with a total value of £301.50. 64.11% of the stock is owned by company insiders.

CMC Markets Stock Performance

The business has a 50-day simple moving average of GBX 218.70 and a 200 day simple moving average of GBX 236.09. The company has a debt-to-equity ratio of 4.19, a current ratio of 2.18 and a quick ratio of 2.47. The firm has a market cap of £728.91 million, a PE ratio of 11.84 and a beta of 0.51.

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

About CMC Markets

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.