Zacks Reiterates “Neutral” Rating for American International Group (AIG)
American International Group (NYSE:AIG)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday. They currently have a $58.00 target price on the stock. Zacks‘s target price indicates a potential upside of 5.67% from the stock’s previous close.
A number of other firms have also recently commented on AIG. Analysts at S&P Equity Research reiterated a “buy” rating on shares of American International Group in a research note on Wednesday, June 11th. Separately, analysts at Barclays raised their price target on shares of American International Group from $56.00 to $64.00 in a research note on Friday, June 6th. They now have an “overweight” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of American International Group in a research note on Thursday, May 29th. They now have a $58.00 price target on the stock, up previously from $55.00. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $56.75.
American International Group (NYSE:AIG) traded down 0.97% on Friday, hitting $54.36. 2,205,152 shares of the company’s stock traded hands. American International Group has a 52 week low of $44.07 and a 52 week high of $56.00. The stock’s 50-day moving average is $54.20 and its 200-day moving average is $51.16. The company has a market cap of $78.640 billion and a price-to-earnings ratio of 9.57. American International Group also was the recipient of a significant drop in short interest in May. As of May 30th, there was short interest totalling 13,680,947 shares, a drop of 13.6% from the May 15th total of 15,828,378 shares. Based on an average daily volume of 6,489,438 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.0% of the shares of the stock are sold short.
American International Group (NYSE:AIG) last announced its earnings results on Monday, May 5th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.16. The company had revenue of $8.23 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. Analysts expect that American International Group will post $4.43 EPS for the current fiscal year.
American International Group, Inc (NYSE:AIG) is a global insurance company.
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