Everest Group (NYSE:EG) Given New $380.00 Price Target at Barclays

Everest Group (NYSE:EG) had its price target hoisted by Barclays from $377.00 to $380.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

EG has been the subject of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a report on Thursday, January 22nd. Zacks Research raised Everest Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Wells Fargo & Company decreased their price objective on Everest Group from $332.00 to $310.00 and set an “equal weight” rating for the company in a report on Friday, February 6th. Cantor Fitzgerald decreased their price objective on Everest Group from $348.00 to $344.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Finally, Evercore set a $365.00 price objective on Everest Group in a report on Wednesday, January 7th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $361.43.

Everest Group Stock Up 1.8%

NYSE:EG opened at $333.23 on Wednesday. The firm has a market capitalization of $13.46 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 0.24 and a beta of 0.34. The stock has a 50 day moving average of $329.80 and a 200-day moving average of $330.28. Everest Group has a 52 week low of $302.44 and a 52 week high of $368.29. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last posted its earnings results on Thursday, February 5th. The company reported $13.26 EPS for the quarter, missing the consensus estimate of $13.36 by ($0.10). Everest Group had a net margin of 9.09% and a return on equity of 12.50%. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the company posted ($18.39) earnings per share. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts predict that Everest Group will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, March 13th. Everest Group’s dividend payout ratio is 21.13%.

Institutional Investors Weigh In On Everest Group

Institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in Everest Group in the third quarter worth approximately $30,000. Activest Wealth Management acquired a new stake in Everest Group in the fourth quarter worth approximately $34,000. Raiffeisen Bank International AG acquired a new stake in Everest Group in the fourth quarter worth approximately $34,000. UMB Bank n.a. lifted its position in Everest Group by 81.4% in the third quarter. UMB Bank n.a. now owns 107 shares of the company’s stock worth $37,000 after purchasing an additional 48 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in Everest Group in the fourth quarter worth approximately $37,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Company Profile

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.