Everest Group (NYSE:EG) Given New $454.00 Price Target at Bank of America

Everest Group (NYSE:EG) had its price objective hoisted by Bank of America from $430.00 to $454.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

EG has been the topic of several other research reports. Zacks Research raised shares of Everest Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Mizuho lifted their price objective on shares of Everest Group from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Monday. Barclays lifted their price objective on shares of Everest Group from $377.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. UBS Group reaffirmed a “buy” rating and issued a $345.00 price objective on shares of Everest Group in a research report on Monday, January 12th. Finally, Evercore set a $365.00 price objective on shares of Everest Group in a research report on Wednesday, January 7th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $364.14.

Everest Group Stock Performance

Shares of EG stock opened at $341.06 on Tuesday. The firm has a market cap of $16.96 billion, a price-to-earnings ratio of 9.01, a P/E/G ratio of 0.24 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.39. Everest Group has a 52 week low of $302.44 and a 52 week high of $368.29. The firm’s 50-day simple moving average is $330.16 and its two-hundred day simple moving average is $329.97.

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

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, March 13th. Everest Group’s dividend payout ratio is presently 21.13%.

Hedge Funds Weigh In On Everest Group

Several hedge funds have recently made changes to their positions in the stock. Darwin Wealth Management LLC grew its position in shares of Everest Group by 6.2% in the third quarter. Darwin Wealth Management LLC now owns 568 shares of the company’s stock valued at $199,000 after purchasing an additional 33 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its position in shares of Everest Group by 2.1% in the fourth 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 in the last quarter. Siemens Fonds Invest GmbH grew its position in shares of Everest Group by 3.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 1,067 shares of the company’s stock valued at $364,000 after purchasing an additional 34 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Everest Group by 27.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 171 shares of the company’s stock valued at $58,000 after purchasing an additional 37 shares in the last quarter. Finally, Trail Ridge Investment Advisors LLC grew its position in shares of Everest Group by 3.3% in the third quarter. Trail Ridge Investment Advisors LLC now owns 1,236 shares of the company’s stock valued at $433,000 after purchasing an additional 40 shares in the last quarter. 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.