Popular Lowered to Hold at TheStreet (BPOP)
Popular (NASDAQ:BPOP) was downgraded by investment analysts at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, AnalystRatingsNetwork.com 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 solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that revenues have generally been declining.”
Popular (NASDAQ:BPOP) opened at 26.16 on Wednesday. Popular has a 52 week low of $18.06 and a 52 week high of $34.34. The stock has a 50-day moving average of $26.16 and a 200-day moving average of $29.57. The company has a market cap of $2.703 billion and a price-to-earnings ratio of 5.04.
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 in the prior year, the company posted $0.45 earnings per share. On average, analysts predict that Popular will post $4.89 earnings per share 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 equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $32.62.
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.