BB&T Corp. Price Target Cut to $38.00 (BBT)
Equities research analysts at Guggenheim cut their price target on shares of BB&T Corp. (NYSE:BBT) from $40.00 to $38.00 in a research note issued to investors on Monday, StockRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s price objective indicates a potential upside of 12.59% from the stock’s previous close.
Shares of BB&T Corp. (NYSE:BBT) traded down 0.65% during mid-day trading on Monday, hitting $33.75. The stock had a trading volume of 2,592,695 shares. BB&T Corp. has a one year low of $26.86 and a one year high of $36.59. The stock’s 50-day moving average is $34.62 and its 200-day moving average is $33.23. The company has a market cap of $23.756 billion and a price-to-earnings ratio of 13.99.
BB&T Corp. (NYSE:BBT) last posted its quarterly earnings results on Thursday, July 18th. The company reported $0.77 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.74 by $0.03. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the company posted $0.72 earnings per share. BB&T Corp.’s revenue was up 1.3% compared to the same quarter last year. Analysts expect that BB&T Corp. will post $2.93 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of BB&T Corp. (NYSE:BBT) from $35.50 to $36.50 in a research note to investors on Wednesday, September 18th. They now have a “neutral” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of BB&T Corp. (NYSE:BBT) from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, September 17th. They now have a $39.00 price target on the stock, up previously from $37.00. Finally, analysts at BMO Capital Markets reiterated a “hold” rating on shares of BB&T Corp. (NYSE:BBT) in a research note to investors on Thursday, September 12th. They now have a $40.00 price target on the stock. Eighteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. BB&T Corp. has an average rating of “Hold” and an average price target of $36.48.
BB&T Corporation (NYSE:BBT) is a financial holding company.
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