Everest Group, Ltd. (NYSE:EG) Given Average Rating of “Hold” by Brokerages

Shares of Everest Group, Ltd. (NYSE:EG) have earned a consensus recommendation of “Hold” from the sixteen research firms that are presently covering the stock, MarketBeat reports. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $393.9333.

EG has been the subject of a number of recent analyst reports. Weiss Ratings raised Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Mizuho dropped their price objective on Everest Group from $418.00 to $416.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Barclays raised their target price on Everest Group from $420.00 to $430.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Atlantic Securities set a $484.00 target price on Everest Group in a research note on Wednesday, July 15th. Finally, Wells Fargo & Company upped their price target on Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a report on Friday, July 31st.

Everest Group Price Performance

Shares of EG opened at $369.91 on Tuesday. Everest Group has a twelve month low of $302.44 and a twelve month high of $401.07. The firm’s fifty day simple moving average is $363.11 and its 200-day simple moving average is $345.40. The firm has a market capitalization of $14.18 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 0.73 and a beta of 0.29. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, July 29th. The company reported $14.85 EPS for the quarter, topping analysts’ consensus estimates of $14.52 by $0.33. The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.99 billion. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $16.10 earnings per share. Equities analysts forecast that Everest Group will post 53.13 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 9th. Everest Group’s payout ratio is currently 16.92%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. M&T Bank Corp increased its position in Everest Group by 4,077.5% during the fourth quarter. M&T Bank Corp now owns 79,205 shares of the company’s stock worth $26,878,000 after buying an additional 77,309 shares during the period. Algebris UK Ltd. purchased a new position in shares of Everest Group during the fourth quarter worth approximately $23,460,000. Northwestern Mutual Wealth Management Co. increased its holdings 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 valued at $176,205,000 after acquiring an additional 515,063 shares during the period. National Pension Service raised its position in Everest Group by 13.2% in the 4th quarter. National Pension Service now owns 44,113 shares of the company’s stock valued at $14,970,000 after purchasing an additional 5,157 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Everest Group by 7.7% in the 1st quarter. Bank of America Corp DE now owns 233,326 shares of the company’s stock valued at $76,263,000 after purchasing an additional 16,701 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.