Fidelity & Guaranty Life’s Neutral Rating Reaffirmed at JPMorgan Chase & Co. (FGL)
Fidelity & Guaranty Life (NYSE:FGL)‘s stock had its “neutral” rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Tuesday. They currently have a $21.00 target price on the stock, down from their previous target price of $25.00. JPMorgan Chase & Co.’s target price would suggest a potential downside of 12.28% from the company’s current price.
Fidelity & Guaranty Life (NYSE:FGL) remained flat at $23.94 during trading on Tuesday. The stock had a trading volume of 66,694 shares. Fidelity & Guaranty Life has a 1-year low of $18.12 and a 1-year high of $24.52. The stock’s 50-day moving average is $22.06 and its 200-day moving average is $21.25.
Fidelity & Guaranty Life (NYSE:FGL) last released its earnings data on Thursday, May 8th. The company reported $0.42 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.43 by $0.01. The company had revenue of $214.30 million for the quarter, compared to the consensus estimate of $223.49 million. During the same quarter last year, the company posted $1.56 earnings per share. Fidelity & Guaranty Life’s revenue was down 46.9% compared to the same quarter last year. Analysts expect that Fidelity & Guaranty Life will post $2.22 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse downgraded shares of Fidelity & Guaranty Life from an “outperform” rating to a “neutral” rating in a research note on Friday, May 16th. They now have a $24.00 price target on the stock, up previously from $22.00. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Fidelity & Guaranty Life currently has an average rating of “Hold” and an average target price of $23.25.
Fidelity & Guaranty Life is a holding company. The Company offers various types of fixed annuities and life insurance products through its insurance subsidiaries: Fidelity & Guaranty Life Insurance Company (NYSE:FGL) and Fidelity & Guaranty Life Insurance Company of New York (FGL NY Insurance).
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