Everest Group (NYSE:EG) Announces Earnings Results, Misses Expectations By $0.10 EPS

Everest Group (NYSE:EG) released its earnings results on Wednesday. The company reported $13.26 earnings per share for the quarter, missing analysts’ consensus estimates of $13.36 by ($0.10), Zacks reports. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $3.97 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.74%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period last year, the business posted ($18.39) EPS.

Everest Group Price Performance

Shares of NYSE:EG opened at $333.05 on Thursday. The company has a market capitalization of $13.98 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 0.23 and a beta of 0.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.39. Everest Group has a fifty-two week low of $302.44 and a fifty-two week high of $370.20. The company’s 50-day moving average is $326.56 and its 200 day moving average is $332.60.

Institutional Trading of Everest Group

Several hedge funds and other institutional investors have recently modified their holdings of EG. CIBC Bancorp USA Inc. bought a new position in Everest Group in the 3rd quarter worth about $2,034,000. Captrust Financial Advisors raised its stake in shares of Everest Group by 106.7% during the third quarter. Captrust Financial Advisors now owns 11,943 shares of the company’s stock valued at $4,183,000 after acquiring an additional 6,165 shares during the last quarter. Coldstream Capital Management Inc. grew its position in shares of Everest Group by 10.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 735 shares of the company’s stock worth $257,000 after buying an additional 67 shares during the last quarter. Advisory Services Network LLC bought a new position in Everest Group in the 3rd quarter worth $507,000. Finally, NewEdge Advisors LLC lifted its holdings in Everest Group by 60.6% in the third quarter. NewEdge Advisors LLC now owns 1,624 shares of the company’s stock worth $569,000 after buying an additional 613 shares during the period. Institutional investors own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

EG has been the subject of several research analyst reports. Barclays lifted their target price on Everest Group from $365.00 to $377.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Keefe, Bruyette & Woods boosted 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. Wall Street Zen lowered Everest Group from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. 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, TD Cowen dropped their price target on Everest Group from $400.00 to $365.00 and set a “hold” rating on the stock in a research note on Monday, December 15th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $364.64.

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.