Equities Analysts Set Expectations for Credit Suisse Group AG’s FY2023 Earnings (NYSE:CS)

Credit Suisse Group AG (NYSE:CS – Get Rating) – Research analysts at Jefferies Financial Group reduced their FY2023 EPS estimates for shares of Credit Suisse Group in a report issued on Thursday, May 12th. Jefferies Financial Group analyst F. Bocahut now forecasts that the financial services provider will earn $0.91 per share for the year, down from their prior estimate of $1.06. Jefferies Financial Group also issued estimates for Credit Suisse Group’s FY2024 earnings at $1.08 EPS.

Credit Suisse Group (NYSE:CS – Get Rating) last posted its quarterly earnings data on Thursday, February 10th. The financial services provider reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.29. Credit Suisse Group had a negative return on equity of 0.63% and a negative net margin of 6.95%. The firm had revenue of $4.97 billion for the quarter.

Other equities analysts have also issued research reports about the company. Kepler Capital Markets lowered Credit Suisse Group from a “buy” rating to a “hold” rating and set a CHF 8.50 price objective on the stock. in a research note on Tuesday, February 15th. JPMorgan Chase & Co. decreased their price target on Credit Suisse Group from CHF 7.90 to CHF 6.60 in a research note on Friday, April 29th. UBS Group decreased their price target on Credit Suisse Group from CHF 8.50 to CHF 7.40 in a research note on Friday, March 11th. Berenberg Bank lowered Credit Suisse Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Morgan Stanley decreased their price target on Credit Suisse Group from CHF 10.50 to CHF 9.50 and set an “equal weight” rating on the stock in a research note on Thursday, April 21st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Credit Suisse Group has an average rating of “Hold” and an average target price of $8.38.

Credit Suisse Group stock traded up $0.22 during mid-day trading on Friday, reaching $6.46. 367,317 shares of the company were exchanged, compared to its average volume of 13,765,947. The company has a fifty day simple moving average of $7.44 and a 200-day simple moving average of $8.87. Credit Suisse Group has a 12 month low of $6.07 and a 12 month high of $11.19. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.34 and a quick ratio of 1.34.

The business also recently announced a — dividend, which will be paid on Monday, May 23rd. Shareholders of record on Tuesday, May 10th will be issued a dividend of $0.0528 per share. This represents a yield of 0.5%. The ex-dividend date is Monday, May 9th. Credit Suisse Group’s payout ratio is presently -4.29%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Atria Investments LLC lifted its stake in shares of Credit Suisse Group by 25.8% in the 3rd 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 during the period. Yousif Capital Management LLC acquired a new position in shares of Credit Suisse Group in the 4th quarter valued at about $396,000. Lake Street Advisors Group LLC lifted its stake in shares of Credit Suisse Group by 23.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 23,493 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 4,522 shares during the period. Scotia Capital Inc. lifted its stake in shares of Credit Suisse Group by 5.6% in the 3rd quarter. Scotia Capital Inc. now owns 221,510 shares of the financial services provider’s stock valued at $2,184,000 after purchasing an additional 11,717 shares during the period. Finally, Retirement Planning Co of New England Inc. bought a new stake in Credit Suisse Group in the 4th quarter valued at about $66,000. 13.58% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Stories