AllianceBernstein Holding’s Neutral Rating Reaffirmed at Citigroup Inc. (AB)
AllianceBernstein Holding (NYSE:AB)‘s stock had its “neutral” rating restated by research analysts at Citigroup Inc. in a report released on Thursday. They currently have a $27.00 target price on the stock, up from their previous target price of $26.00. Citigroup Inc.’s price objective indicates a potential upside of 5.51% from the company’s current price.
AllianceBernstein Holding (NYSE:AB) traded up 2.19% on Thursday, hitting $26.15. The stock had a trading volume of 293,037 shares. AllianceBernstein Holding has a 1-year low of $18.77 and a 1-year high of $26.69. The stock has a 50-day moving average of $24.64 and a 200-day moving average of $23.65. The company has a market cap of $2.517 billion and a price-to-earnings ratio of 14.98.
AllianceBernstein Holding (NYSE:AB) last announced its earnings results on Wednesday, April 30th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.41 by $0.02. The company had revenue of $715.00 million for the quarter, compared to the consensus estimate of $723.35 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. Analysts expect that AllianceBernstein Holding will post $1.73 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on AB. Analysts at Morgan Stanley cut their price target on shares of AllianceBernstein Holding from $27.00 to $26.00 in a research note on Monday. Separately, analysts at Zacks downgraded shares of AllianceBernstein Holding from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $27.60 price target on the stock. Two investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $26.90.
AllianceBernstein Holding L.P provides research, diversified investment management and related services globally to a range of clients through three buy-side distribution channels, Institutions, Retail and Private Client, and its sell-side business, Bernstein Research Services.
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