CMC Markets (LON:CMCX) Shares Up 28.9% Following Analyst Upgrade

CMC Markets Plc (LON:CMCX)’s share price shot up 28.9% during trading on Friday after Shore Capital upgraded the stock to a buy rating. Shore Capital now has a GBX 330 price target on the stock, up from their previous price target of GBX 280. CMC Markets traded as high as GBX 271.50 and last traded at GBX 267.50. 12,959,912 shares traded hands during mid-day trading, an increase of 1,846% from the average session volume of 666,025 shares. The stock had previously closed at GBX 207.50.

Separately, Panmure Gordon boosted their price objective on CMC Markets from GBX 240 to GBX 260 and gave the company a “hold” rating in a report on Thursday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, CMC Markets presently has a consensus rating of “Moderate Buy” and an average price target of GBX 295.

Insiders Place Their Bets

In related news, insider David Fineberg purchased 134 shares of the business’s stock in a transaction on Monday, October 6th. The stock was acquired at an average price of GBX 225 per share, for a total transaction of £301.50. Insiders own 64.11% of the company’s stock.

CMC Markets Stock Up 28.9%

The company has a market cap of £728.91 million, a P/E ratio of 11.84 and a beta of 0.51. The company has a debt-to-equity ratio of 4.19, a current ratio of 2.18 and a quick ratio of 2.47. The stock has a fifty day moving average price of GBX 219.60 and a two-hundred day moving average price of GBX 236.31.

CMC Markets (LON:CMCX) last announced its quarterly earnings results on Thursday, November 20th. The company reported GBX 13.30 earnings per share (EPS) for the quarter. CMC Markets had a return on equity of 86.11% and a net margin of 95.92%. On average, research analysts expect that CMC Markets Plc will post 20.9884902 EPS for the current year.

CMC Markets Company Profile

CMC is a leading global provider of online trading and investing, with a comprehensive retail, professional and institutional offering.
The business was started in 1989 with a simple ethos: to make financial markets truly accessible for investors. We are proud of our strong heritage and our successful 30-year track record as an innovator at the forefront of enabling digital trading for our clients.