Credit Suisse Group (NYSE:CS) PT Lowered to CHF 9.50 at Morgan Stanley

Credit Suisse Group (NYSE:CSGet Rating) had its target price cut by research analysts at Morgan Stanley from CHF 10.50 to CHF 9.50 in a note issued to investors on Thursday, The Fly reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock.

CS has been the topic of a number of other reports. UBS Group lowered their price target on Credit Suisse Group from CHF 8.50 to CHF 7.40 in a report on Friday, March 11th. BNP Paribas cut Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report on Friday, January 7th. Barclays decreased their price objective on Credit Suisse Group from CHF 9 to CHF 8.50 in a report on Wednesday, January 26th. Exane BNP Paribas lowered Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report on Friday, January 7th. Finally, Keefe, Bruyette & Woods lowered Credit Suisse Group from a “market perform” rating to an “underperform” rating in a report on Thursday, January 6th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.52.

Shares of NYSE:CS traded down $0.37 during mid-day trading on Thursday, reaching $7.35. 885,716 shares of the company traded hands, compared to its average volume of 10,757,051. The company’s 50 day moving average price is $8.01 and its 200-day moving average price is $9.27. The firm has a market cap of $19.48 billion, a PE ratio of -10.50 and a beta of 1.40. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.36 and a quick ratio of 1.36. Credit Suisse Group has a 52 week low of $6.85 and a 52 week high of $11.19.

Credit Suisse Group (NYSE:CSGet Rating) last announced its quarterly earnings data on Thursday, February 10th. The financial services provider reported ($0.31) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.29. Credit Suisse Group had a negative return on equity of 0.59% and a negative net margin of 5.87%. The company had revenue of $4.97 billion during the quarter. On average, research analysts predict that Credit Suisse Group will post 0.79 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Atria Investments LLC boosted its position in Credit Suisse Group by 25.8% during the third quarter. Atria Investments LLC now owns 131,968 shares of the financial services provider’s stock valued at $1,301,000 after purchasing an additional 27,093 shares in the last quarter. Lake Street Advisors Group LLC raised its stake in Credit Suisse Group by 23.8% in the third quarter. Lake Street Advisors Group LLC now owns 23,493 shares of the financial services provider’s stock valued at $232,000 after buying an additional 4,522 shares during the last quarter. Scotia Capital Inc. raised its stake in Credit Suisse Group by 5.6% in the third quarter. Scotia Capital Inc. now owns 221,510 shares of the financial services provider’s stock valued at $2,184,000 after buying an additional 11,717 shares during the last quarter. Bell & Brown Wealth Advisors LLC purchased a new position in shares of Credit Suisse Group in the third quarter worth about $457,000. Finally, Madison Asset Management LLC raised its stake in shares of Credit Suisse Group by 1.7% in the third quarter. Madison Asset Management LLC now owns 442,413 shares of the financial services provider’s stock worth $4,362,000 after purchasing an additional 7,444 shares during the last quarter. 13.51% of the stock is currently owned by institutional investors and hedge funds.

About Credit Suisse Group (Get Rating)

Credit Suisse Group AG, together with its subsidiaries, provides various financial services in Switzerland, Europe, the Middle East, Africa, the Americas, and Asia Pacific. The company offers wealth management solutions, including investment advice and discretionary asset management services; risk management solutions, such as managed investment products; and wealth planning, succession planning, and trust services.

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