Everest Group (NYSE:EG) Price Target Cut to $310.00 by Analysts at Wells Fargo & Company

Everest Group (NYSE:EG) had its price objective reduced by analysts at Wells Fargo & Company from $332.00 to $310.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 6.08% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Cantor Fitzgerald dropped their price objective on shares of Everest Group from $348.00 to $344.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Keefe, Bruyette & Woods lifted their target price on Everest Group from $400.00 to $430.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Zacks Research upgraded Everest Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a research note on Thursday, January 22nd. Finally, Mizuho set a $358.00 price objective on Everest Group in a research note on Wednesday, January 14th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Everest Group has a consensus rating of “Hold” and a consensus target price of $363.07.

Everest Group Trading Up 1.3%

Shares of EG stock traded up $4.17 on Friday, hitting $330.06. The company had a trading volume of 104,699 shares, compared to its average volume of 352,791. Everest Group has a twelve month low of $302.44 and a twelve month high of $370.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $13.86 billion, a P/E ratio of 8.73, a P/E/G ratio of 0.23 and a beta of 0.36. The stock’s 50-day moving average is $326.83 and its two-hundred day moving average is $332.55.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, February 4th. The company reported $13.26 earnings per share for the quarter, missing analysts’ consensus estimates of $13.36 by ($0.10). The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $3.97 billion. Everest Group had a net margin of 9.09% and a return on equity of 12.63%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($18.39) EPS. On average, equities research analysts anticipate that Everest Group will post 47.93 earnings per share for the current fiscal year.

Institutional Trading of Everest Group

Several institutional investors have recently added to or reduced their stakes in EG. Norges Bank purchased a new stake in shares of Everest Group during the second quarter valued at $601,300,000. AQR Capital Management LLC grew its position in Everest Group by 70.3% during the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock valued at $695,275,000 after buying an additional 830,418 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Everest Group by 12,322.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock worth $176,205,000 after purchasing an additional 515,063 shares in the last quarter. Altrinsic Global Advisors LLC raised its stake in shares of Everest Group by 37.2% in the second quarter. Altrinsic Global Advisors LLC now owns 937,296 shares of the company’s stock worth $318,540,000 after buying an additional 254,317 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Everest Group by 157.5% in the third quarter. Alliancebernstein L.P. now owns 291,886 shares of the company’s stock worth $102,227,000 after purchasing an additional 178,536 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

About Everest Group

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.