Wells Fargo & Company Issues Pessimistic Forecast for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG) had its price objective cut by equities research analysts at Wells Fargo & Company from $332.00 to $310.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 5.69% from the stock’s current price.

A number of other equities analysts have also recently weighed in on EG. Raymond James Financial restated an “outperform” rating and set a $350.00 price objective on shares of Everest Group in a research report on Monday, November 3rd. Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $400.00 to $430.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Wolfe Research upgraded Everest Group from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 29th. Barclays increased their target price on Everest Group from $365.00 to $377.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Finally, Evercore set a $365.00 price target on Everest Group in a research note on Wednesday, January 7th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $363.07.

Everest Group Price Performance

NYSE:EG opened at $328.72 on Friday. The stock has a market capitalization of $13.80 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 0.23 and a beta of 0.36. The stock’s 50-day moving average price is $327.12 and its 200-day moving average price is $332.51. The company has a quick ratio of 0.39, a current ratio of 0.37 and a debt-to-equity ratio of 0.23. Everest Group has a 52 week low of $302.44 and a 52 week high of $370.20.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $13.26 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 business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the firm earned ($18.39) earnings per share. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, equities analysts expect that Everest Group will post 47.93 EPS for the current fiscal year.

Institutional Trading of Everest Group

Several large investors have recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC boosted its position in shares of Everest Group by 6.2% during the 3rd quarter. Darwin Wealth Management LLC now owns 568 shares of the company’s stock valued at $199,000 after acquiring an additional 33 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in Everest Group by 2.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 1,682 shares of the company’s stock valued at $571,000 after purchasing an additional 34 shares during the last quarter. Trail Ridge Investment Advisors LLC grew its stake in shares of Everest Group by 3.3% in the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 1,236 shares of the company’s stock valued at $433,000 after buying an additional 40 shares during the period. Wealthfront Advisers LLC increased its holdings in shares of Everest Group by 2.8% during the 3rd quarter. Wealthfront Advisers LLC now owns 1,466 shares of the company’s stock worth $513,000 after buying an additional 40 shares during the last quarter. Finally, GenTrust LLC raised its position in shares of Everest Group by 4.8% during the 4th quarter. GenTrust LLC now owns 874 shares of the company’s stock valued at $297,000 after buying an additional 40 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

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.