Ashmore Group plc (ASHM) Price Target Cut to GBX 310
Ashmore Group plc (LON:ASHM) had its price objective cut by J P Morgan Chase & Co from GBX 320 ($4.13) to GBX 310 ($4.00) in a research report issued to clients and investors on Friday, MarketBeat reports. The firm presently has an “underweight” rating on the investment management service provider’s stock. J P Morgan Chase & Co’s price target suggests a potential downside of 8.82% from the company’s previous close.
A number of other equities research analysts have also issued reports on the company. Numis Securities Ltd reaffirmed a “hold” rating and issued a GBX 320 ($4.13) target price on shares of Ashmore Group plc in a research note on Thursday. Peel Hunt reaffirmed an “add” rating and issued a GBX 400 ($5.17) target price on shares of Ashmore Group plc in a research note on Thursday. Societe Generale reaffirmed a “hold” rating and issued a GBX 370 ($4.78) target price on shares of Ashmore Group plc in a research note on Wednesday. Macquarie upped their target price on Ashmore Group plc from GBX 344 ($4.44) to GBX 374 ($4.83) and gave the company a “neutral” rating in a research note on Thursday, August 24th. Finally, Shore Capital reaffirmed a “hold” rating on shares of Ashmore Group plc in a research note on Tuesday, August 15th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of GBX 356.31 ($4.60).
Ashmore Group plc (LON ASHM) traded down 0.15% during midday trading on Friday, hitting GBX 340.00. The company had a trading volume of 1,961,106 shares. Ashmore Group plc has a 52-week low of GBX 269.00 and a 52-week high of GBX 379.70. The stock’s market cap is GBX 2.27 billion. The stock’s 50-day moving average price is GBX 360.33 and its 200-day moving average price is GBX 355.44.
Ashmore Group plc (LON:ASHM) last posted its earnings results on Thursday, September 7th. The investment management service provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Ashmore Group plc had a return on equity of 28.60% and a net margin of 70.27%. On average, equities research analysts expect that Ashmore Group plc will post $22.33 EPS for the current fiscal year.
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Ashmore Group plc Company Profile
Ashmore Group plc is a United Kingdom-based company, which operates as a specialist emerging markets asset manager. The Company offers a range of investment themes, such as external debt, local currency, corporate debt, blended debt, equities, alternatives, multi-strategy and overlay/liquidity. Its geographical segments include United Kingdom, United States and Others.
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