Willis Group Holdings PLC’s “Neutral” Rating Reaffirmed at Zacks (WSH)
Willis Group Holdings PLC (NYSE:WSH)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Friday. They currently have a $43.00 price target on the stock. Zacks‘s price objective points to a potential upside of 6.20% from the company’s current price.
Zacks’ analyst wrote, “Willis Group’s earnings per share in the second quarter lagged the Zacks Consensus Estimate as well as year-ago earnings on higher expenses. The top line also beat expectation and improved year over year riding on the strength of higher commissions and fees. The company also witnessed modest growth in reinsurance and improvement in investment income. Moreover, each segment delivered organic growth for the seventh consecutive quarter. With solid retention levels and new business growth, we expect the company to sustain its momentum. Its Operational Improvement Program, besides costs savings will help it to realize operational efficiencies, invest in new growth avenues and strengthen its client services. Willis Group remains focused on enhancing its shareholder value. It plans a $200 million worth share buyback in 2014. We retain Neutral on Willis Group.”
Several other analysts have also recently commented on the stock. Analysts at Barclays reiterated an “overweight” rating on shares of Willis Group Holdings PLC in a research note on Wednesday. They now have a $45.00 price target on the stock, down previously from $47.00. Separately, analysts at Evercore Partners initiated coverage on shares of Willis Group Holdings PLC in a research note on Wednesday, July 9th. They set an “equal weight” rating and a $45.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “sell” rating on shares of Willis Group Holdings PLC in a research note on Wednesday, July 2nd. They now have a $38.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $45.56.
Willis Group Holdings PLC (NYSE:WSH) traded down 0.54% on Friday, hitting $40.53. The stock had a trading volume of 820,912 shares. Willis Group Holdings PLC has a 52-week low of $40.22 and a 52-week high of $47.22. The stock has a 50-day moving average of $42.82 and a 200-day moving average of $42.61. The company has a market cap of $7.265 billion and a P/E ratio of 18.74.
Willis Group Holdings PLC (NYSE:WSH) last announced its earnings results on Tuesday, July 29th. The company reported $0.49 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.59 by $0.10. The company had revenue of $935.00 million for the quarter, compared to the consensus estimate of $924.50 million. During the same quarter last year, the company posted $0.59 earnings per share. Willis Group Holdings PLC’s revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that Willis Group Holdings PLC will post $2.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.96%.
Willis Group Holdings Public Limited Company provides a range of insurance brokerage, reinsurance and risk management consulting services to its clients worldwide.
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