JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Phoenix Group (LON:PHNX) Stock

Phoenix Group (LON:PHNX) had its price objective upped by analysts at JPMorgan Chase & Co. from GBX 605 to GBX 620 in a research note issued to investors on Thursday, MarketBeat reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 17.28% from the stock’s previous close.

Several other equities analysts have also recently weighed in on PHNX. UBS Group raised shares of Phoenix Group to a “buy” rating and raised their price target for the stock from GBX 670 to GBX 770 in a research note on Wednesday, December 17th. The Goldman Sachs Group upgraded shares of Phoenix Group to a “neutral” rating and increased their target price for the stock from GBX 593 to GBX 752 in a report on Wednesday, January 21st. Finally, Berenberg Bank lifted their price target on shares of Phoenix Group from GBX 852 to GBX 918 and gave the company a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of GBX 750.

Phoenix Group Stock Performance

PHNX opened at GBX 749.50 on Thursday. The company has a market capitalization of £7.51 billion, a price-to-earnings ratio of -11.82, a P/E/G ratio of 1.95 and a beta of 0.73. The business’s 50-day moving average price is GBX 726.16 and its two-hundred day moving average price is GBX 687.54. Phoenix Group has a 1 year low of GBX 485.20 and a 1 year high of GBX 766. The company has a debt-to-equity ratio of 160.32, a current ratio of 3.30 and a quick ratio of 0.12.

Phoenix Group (LON:PHNX) last posted its quarterly earnings data on Monday, December 15th. The company reported GBX 32.70 earnings per share (EPS) for the quarter. Phoenix Group had a negative return on equity of 21.76% and a negative net margin of 2.10%. Equities analysts expect that Phoenix Group will post 51.179941 EPS for the current fiscal year.

Phoenix Group Company Profile

Phoenix Group is one of the UK’s largest long-term savings and retirement businesses with over £290 billion of assets under administration and c. 12 million customers. We were founded in 1782 and are based in London, UK, and our family of brands include Standard Life, SunLife and ReAssure. We are a constituent of the FTSE 100 with c. 6,600 colleagues and offer a broad range of savings and retirement income products to support people across all stages of their savings journey. We are a growing and sustainable business with a clear purpose – helping people secure a life of possibilities.