Commerzbank AG (OTCMKTS:CRZBY) Receives Consensus “Moderate Buy” Recommendation From Brokerages
Shares of Commerzbank AG (OTCMKTS: CRZBY – Get a rating) received an average recommendation of “moderate buy” by the eight brokerages that currently cover the business, market beat reports. One investment analyst rated the stock with a hold recommendation and two gave the company a buy recommendation. The average 1-year price target among brokerages that updated their coverage on the stock in the past year is $9.34.
A number of equity research analysts have published reports on CRZBY shares. JPMorgan Chase & Co. raised its price target on Commerzbank shares from €8.50 ($8.50) to €8.60 ($8.60) in a Monday, October 24 research report. Barclays raised its price target on Commerzbank shares from €7.00 ($7.00) to €8.00 ($8.00) in a Monday, October 24 research report. Royal Bank of Canada raised its price target on Commerzbank shares from €6.00 ($6.00) to €7.50 ($7.50) in a Tuesday, October 18 research report. Finally, UBS Group raised its price target on Commerzbank shares from €8.60 ($8.60) to €8.90 ($8.90) in a Thursday, July 21 research report.
Commerzbank stock performance
CRZBY opened at $7.86 on Friday. Commerzbank has a fifty-two week minimum of $5.70 and a fifty-two week maximum of $10.55. The company’s 50-day moving average is $7.60 and its 200-day moving average is $7.30.
Commerzbank (OTCMKTS: CRZBY – Get a rating) last released its results on Wednesday, November 9. The financial services provider reported earnings per share of $0.16 for the quarter, missing analyst consensus estimates of $0.28 per ($0.12). The company posted revenue of $1.75 billion for the quarter, versus a consensus estimate of $1.62 billion. As a group, research analysts predict Commerzbank will post 1.02 EPS for the current year.
Commerzbank AG provides banking and capital markets services to private and small business clients, multinational groups, financial service providers and institutional clients worldwide. It operates through two segments, Private and Small Business Customers, and Enterprise Customers. The Company offers accounts, trade payments, payment activation, clearing and custody, and other services; commercial services, including documentary collection, letters of credit, guarantees, trade facilitation, supply chain finance, buyer credit and package services; and bilateral loans, club agreements, Schuldschein instruments, syndicated loans, bonds, private placements, other debt instruments and Islamic financing services.
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