City National Corp. (CYN) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS
City National Corp. (NYSE:CYN) released its earnings data on Thursday. The company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by $0.11, Stock Ratings News reports. The company had revenue of $296.00 million for the quarter, compared to the consensus estimate of $205.27 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis.
City National Corp. (NYSE:CYN) traded down 2.06% on Thursday, hitting $79.40. 364,646 shares of the company’s stock traded hands. City National Corp. has a 52 week low of $49.68 and a 52 week high of $81.34. The stock has a 50-day moving average of $77.99 and a 200-day moving average of $71.60. The company has a market cap of $4.281 billion and a P/E ratio of 20.73.
Several analysts have recently commented on the stock. Analysts at Bank of America Corp. upgraded shares of City National Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, January 9th. They now have a $80.00 price target on the stock, up previously from $52.00. They noted that the move was a valuation call. On the ratings front, analysts at Barclays downgraded shares of City National Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday, January 6th. They now have a $82.00 price target on the stock, up previously from $77.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of City National Corp. in a research note to investors on Monday, November 18th. They now have a $77.00 price target on the stock, up previously from $75.00. Twelve research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $72.00.
City National Corporation (NYSE:CYN) is a bank holding company and a financial holding company.
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