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

Shares of CMC Markets Plc (LON:CMCX) traded up 28.9% during mid-day trading on Friday 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 changed hands during 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 price objective on shares of CMC Markets from GBX 240 to GBX 260 and gave the stock a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 295.

Insiders Place Their Bets

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

CMC Markets Price Performance

The company has a quick ratio of 2.47, a current ratio of 2.18 and a debt-to-equity ratio of 4.19. The firm has a market capitalization of £777.95 million, a price-to-earnings ratio of 12.63 and a beta of 0.51. The stock’s 50 day moving average price is GBX 220.88 and its two-hundred day moving average price is GBX 236.53.

CMC Markets (LON:CMCX) last released 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%. Analysts anticipate that CMC Markets Plc will post 20.9884902 EPS 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.