discoverIE Group (LON:DSCV) Trading 3% Higher – Here’s What Happened

Shares of discoverIE Group plc (LON:DSCV) were up 3% during mid-day trading on Wednesday . The company traded as high as GBX 717 and last traded at GBX 716. 130,254 shares were traded during trading, a decline of 89% from the average session volume of 1,170,802 shares. The stock had previously closed at GBX 695.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DSCV. Royal Bank Of Canada lowered shares of discoverIE Group to a “sector perform” rating and set a GBX 800 price objective for the company. in a research note on Friday, June 5th. Berenberg Bank boosted their target price on shares of discoverIE Group from GBX 950 to GBX 1,050 and gave the company a “buy” rating in a research note on Friday, June 5th. Shore Capital Group restated a “buy” rating on shares of discoverIE Group in a report on Friday, April 17th. Stifel Nicolaus reaffirmed a “buy” rating and issued a GBX 1,000 target price on shares of discoverIE Group in a research report on Friday, April 17th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a GBX 685 price target on shares of discoverIE Group in a report on Thursday, June 4th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, discoverIE Group presently has an average rating of “Moderate Buy” and a consensus price target of GBX 879.29.

discoverIE Group Stock Up 3.0%

The company has a market cap of £688.27 million, a price-to-earnings ratio of 24.35 and a beta of 1.28. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 72.98. The business has a fifty day moving average price of GBX 700.69 and a two-hundred day moving average price of GBX 643.88.

discoverIE Group (LON:DSCV) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported GBX 41.30 EPS for the quarter. The business had revenue of £443.30 million during the quarter. discoverIE Group had a net margin of 6.54% and a return on equity of 9.04%. On average, equities analysts predict that discoverIE Group plc will post 37.5 earnings per share for the current year.

About discoverIE Group

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation, security, and industrial & connectivity.

The Group employs c.4,500 people across 20 countries. Its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India, Thailand, Mexico and the USA.