Credit Suisse Group (NYSE:CS) announced its quarterly earnings data on Friday. The financial services provider reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.05, MarketWatch Earnings reports. The firm had revenue of $5.28 billion during the quarter. Credit Suisse Group had a negative net margin of 5.90% and a negative return on equity of 3.20%.
Shares of Credit Suisse Group (CS) traded up 3.08% during trading on Friday, reaching $15.72. The company’s stock had a trading volume of 6,061,664 shares. The stock’s market capitalization is $32.75 billion. Credit Suisse Group has a 1-year low of $10.77 and a 1-year high of $16.17. The company’s 50-day moving average price is $14.64 and its 200 day moving average price is $14.87.
Several hedge funds and other institutional investors have recently made changes to their positions in CS. Guggenheim Capital LLC raised its position in shares of Credit Suisse Group by 188.0% in the fourth quarter. Guggenheim Capital LLC now owns 95,701 shares of the financial services provider’s stock worth $1,370,000 after buying an additional 62,477 shares in the last quarter. Creative Planning raised its position in shares of Credit Suisse Group by 3.4% in the first quarter. Creative Planning now owns 44,821 shares of the financial services provider’s stock worth $665,000 after buying an additional 1,453 shares in the last quarter. Highland Capital Management LLC raised its position in shares of Credit Suisse Group by 14.9% in the first quarter. Highland Capital Management LLC now owns 77,606 shares of the financial services provider’s stock worth $1,152,000 after buying an additional 10,060 shares in the last quarter. Gradient Investments LLC raised its position in shares of Credit Suisse Group by 16,453.4% in the first quarter. Gradient Investments LLC now owns 17,050 shares of the financial services provider’s stock worth $253,000 after buying an additional 16,947 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Credit Suisse Group by 5.3% in the first quarter. Capstone Asset Management Co. now owns 175,364 shares of the financial services provider’s stock worth $2,602,000 after buying an additional 8,830 shares in the last quarter. 2.85% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on the company. Morgan Stanley reissued a “buy” rating on shares of Credit Suisse Group in a report on Tuesday, July 18th. Zacks Investment Research raised Credit Suisse Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 27th. BidaskClub raised Credit Suisse Group from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Deutsche Bank AG raised Credit Suisse Group from a “hold” rating to a “buy” rating in a report on Monday, June 19th. Finally, Bank of America Corporation assumed coverage on Credit Suisse Group in a report on Monday, June 19th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $17.00.
About Credit Suisse Group
Credit Suisse Group AG (Credit Suisse) is a financial services company. The Company’s segments include Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, Investment Banking & Capital Markets, Strategic Resolution Unit and Corporate Center. It offers a range of private banking and wealth management solutions to its clients in its Swiss Universal Bank, International Wealth Management and Asia Pacific divisions.
Receive News & Ratings for Credit Suisse Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credit Suisse Group and related companies with MarketBeat.com's FREE daily email newsletter.
