Marsh & McLennan Cos. Downgraded by Credit Suisse to “Neutral” (MMC)
Marsh & McLennan Cos. (NYSE:MMC) was downgraded by investment analysts at Credit Suisse from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports.
Marsh & McLennan Cos. (NYSE:MMC) traded down 1.66% on Monday, hitting $47.39. The stock had a trading volume of 2,586,559 shares. Marsh & McLennan Cos. has a one year low of $34.43 and a one year high of $48.71. The stock has a 50-day moving average of $47.80 and a 200-day moving average of $44.38. The company has a market cap of $26.006 billion and a price-to-earnings ratio of 20.44.
Marsh & McLennan Cos. (NYSE:MMC) last released its earnings data on Wednesday, November 6th. The company reported $0.46 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.46. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts expect that Marsh & McLennan Cos. will post $2.47 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MMC. Analysts at Citigroup Inc. initiated coverage on shares of Marsh & McLennan Cos. in a research note to investors on Friday, December 6th. They set a “hold” rating and a $52.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at UBS AG raised their price target on shares of Marsh & McLennan Cos. from $46.00 to $52.00 in a research note to investors on Thursday, December 5th. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Marsh & McLennan Cos. in a research note to investors on Friday, November 22nd. They now have a $50.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $47.06.
Marsh & McLennan Companies, Inc is a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital.
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