Barclays Issues Positive Forecast for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG) had its price target upped by equities research analysts at Barclays from $377.00 to $380.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 14.97% from the stock’s previous close.

A number of other analysts have also issued reports on EG. Evercore set a $365.00 price objective on Everest Group in a research note on Wednesday, January 7th. Cantor Fitzgerald decreased their price objective on Everest Group from $348.00 to $344.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. UBS Group reaffirmed a “buy” rating and set a $345.00 target price on shares of Everest Group in a report on Monday, January 12th. Zacks Research raised shares of Everest Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Mizuho set a $360.00 target price on shares of Everest Group in a report on Wednesday, February 11th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $361.43.

Everest Group Stock Performance

Shares of NYSE:EG traded up $3.15 during midday trading on Wednesday, reaching $330.53. 79,133 shares of the company traded hands, compared to its average volume of 359,402. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.23. Everest Group has a 12 month low of $302.44 and a 12 month high of $368.29. The firm has a market capitalization of $13.35 billion, a price-to-earnings ratio of 8.73, a price-to-earnings-growth ratio of 0.24 and a beta of 0.34. The firm’s fifty day moving average price is $329.63 and its two-hundred day moving average price is $330.26.

Everest Group (NYSE:EG) last released its quarterly earnings data on Thursday, February 5th. The company reported $13.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm posted ($18.39) earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, equities analysts expect that Everest Group will post 47.93 earnings per share for the current year.

Hedge Funds Weigh In On Everest Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in shares of Everest Group by 70.3% during the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock valued at $695,275,000 after purchasing an additional 830,418 shares during the last quarter. State Street Corp grew its holdings in shares of Everest Group by 0.4% during the 4th quarter. State Street Corp now owns 1,906,692 shares of the company’s stock valued at $647,036,000 after purchasing an additional 7,806 shares during the last quarter. Norges Bank bought a new position in shares of Everest Group during the 4th quarter valued at $630,277,000. Vulcan Value Partners LLC grew its holdings in shares of Everest Group by 6.5% during the 4th quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company’s stock valued at $512,288,000 after purchasing an additional 92,274 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Everest Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,170,210 shares of the company’s stock valued at $395,671,000 after purchasing an additional 4,978 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

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.