Guggenheim Lowers Popular Price Target to $30.00 (BPOP)
Investment analysts at Guggenheim decreased their price objective on shares of Popular (NASDAQ:BPOP) from $36.00 to $30.00 in a note issued to investors on Monday, AnalystRatings.NET reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s price target would suggest a potential upside of 18.86% from the stock’s previous close.
Shares of Popular (NASDAQ:BPOP) traded down 3.41% on Monday, hitting $25.24. The stock had a trading volume of 1,270,770 shares. Popular has a 52 week low of $17.78 and a 52 week high of $34.34. The stock has a 50-day moving average of $29.73 and a 200-day moving average of $29.99. The company has a market cap of $2.607 billion and a price-to-earnings ratio of 8.06.
Popular (NASDAQ:BPOP) last announced its earnings results on Thursday, July 18th. The company reported $3.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $2.50. During the same quarter in the prior year, the company posted $0.63 earnings per share. On average, analysts predict that Popular will post $2.65 earnings per share for the current fiscal year.
BPOP has been the subject of a number of other recent research reports. Analysts at Morgan Stanley downgraded shares of Popular from an “equal weight” rating to an “underweight” rating in a research note to investors on Thursday, September 19th. They now have a $25.00 price target on the stock, down previously from $32.00. Separately, analysts at Zacks downgraded shares of Popular from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, September 17th. They now have a $27.70 price target on the stock. Finally, analysts at Sterne Agee raised their price target on shares of Popular to $40.00 in a research note to investors on Wednesday, July 24th. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $31.53.
Popular, Inc (NASDAQ:BPOP) is a diversified, publicly owned bank holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.