Wells Fargo & Company Cuts Everest Group (NYSE:EG) Price Target to $304.00

Everest Group (NYSE:EG) had its price target decreased by Wells Fargo & Company from $310.00 to $304.00 in a research note released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Mizuho set a $360.00 price objective on Everest Group in a research report on Wednesday, February 11th. Cantor Fitzgerald lowered their price objective on Everest Group from $348.00 to $344.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. Evercore set a $365.00 price objective on Everest Group in a research report on Wednesday, January 7th. Zacks Research raised Everest Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Keefe, Bruyette & Woods lowered their price objective on Everest Group from $430.00 to $402.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Everest Group has an average rating of “Hold” and an average target price of $356.85.

Everest Group Stock Performance

Everest Group stock opened at $329.95 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a fifty day moving average of $329.90 and a two-hundred day moving average of $330.22. The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 0.24 and a beta of 0.34. Everest Group has a fifty-two week low of $302.44 and a fifty-two week high of $368.29.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Thursday, February 5th. The company reported $13.26 EPS for the quarter, missing analysts’ consensus estimates of $13.36 by ($0.10). The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $3.97 billion. Everest Group had a net margin of 9.09% and a return on equity of 12.50%. Everest Group’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($18.39) EPS. On average, analysts anticipate that Everest Group will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $2.00 dividend. The ex-dividend date was Friday, March 13th. This represents a $8.00 dividend on an annualized basis and a yield of 2.4%. Everest Group’s dividend payout ratio (DPR) is presently 21.13%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in Everest Group in the third quarter valued at $30,000. Activest Wealth Management acquired a new position in Everest Group in the fourth quarter valued at $34,000. Raiffeisen Bank International AG acquired a new position in Everest Group in the fourth quarter valued at $34,000. UMB Bank n.a. boosted its holdings in Everest Group by 81.4% in the third quarter. UMB Bank n.a. now owns 107 shares of the company’s stock valued at $37,000 after acquiring an additional 48 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in Everest Group in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.