TheStreet Downgrades Popular to Hold (BPOP)
Popular (NASDAQ:BPOP) was downgraded by research analysts at TheStreet from a “buy” rating to a “hold” rating in a report released on Tuesday, American Banking News reports.
The analysts wrote, “Popular (BPOP) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company’s return on equity has been disappointing.”
Popular (NASDAQ:BPOP) traded down 0.08% during mid-day trading on Tuesday, hitting $25.56. The stock had a trading volume of 803,712 shares. Popular has a 52-week low of $17.08 and a 52-week high of $34.34. The stock’s 50-day moving average is $32.38 and its 200-day moving average is $30.07. The company has a market cap of $2.641 billion and a price-to-earnings ratio of 5.11.
Popular (NASDAQ:BPOP) last announced its earnings results on Wednesday, October 23rd. The company reported $2.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.70 by $1.52. During the same quarter last year, the company posted $0.45 earnings per share. Analysts expect that Popular will post $4.89 EPS for the current fiscal year.
A number of other firms have also recently commented on BPOP. Analysts at Guggenheim cut their price target on shares of Popular from $36.00 to $30.00 in a research note to investors on Monday, October 7th. They now have a “neutral” rating on the stock. Separately, 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. Finally, 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. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $32.62.
Popular, Inc (NASDAQ:BPOP) is a diversified, publicly owned bank holding company.
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