RBC Capital Increases Fortress Investment Group LLC Price Target to $11.00 (FIG)
Investment analysts at RBC Capital upped their price target on shares of Fortress Investment Group LLC (NYSE:FIG) from $10.00 to $11.00 in a note issued to investors on Tuesday, American Banking and Market News reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target would suggest a potential upside of 41.57% from the stock’s previous close.
Fortress Investment Group LLC (NYSE:FIG) traded down 1.77% during mid-day trading on Tuesday, hitting $7.77. 1,237,692 shares of the company’s stock traded hands. Fortress Investment Group LLC has a one year low of $3.73 and a one year high of $8.19. The stock’s 50-day moving average is $7.60 and its 200-day moving average is $7.15. The company has a market cap of $1.841 billion and a P/E ratio of 17.90.
Fortress Investment Group LLC (NYSE:FIG) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.11. The company had revenue of $223.10 million for the quarter, compared to the consensus estimate of $259.67 million. During the same quarter last year, the company posted $0.09 earnings per share. Fortress Investment Group LLC’s revenue was up 12.1% compared to the same quarter last year. Analysts expect that Fortress Investment Group LLC will post $0.81 EPS for the current fiscal year.
FIG has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of Fortress Investment Group LLC from $7.00 to $8.00 in a research note to investors on Friday, August 2nd. They now have a “hold” rating on the stock. Analysts at Zacks downgraded shares of Fortress Investment Group LLC from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, July 12th. They now have a $8.20 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Fortress Investment Group LLC has a consensus rating of “Buy” and an average target price of $8.68.
Fortress Investment Group LLC (NYSE:FIG) is a global investment manager with approximately $41.
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