On a downside, Credit Suisse Group AG (NYSE:CS) is likely to find some support, which begins at $11.69. On the upside, the stock will test short term resistance at around $11.8. The failure to get near-term support could push it to $11.63. Its 50 day simple moving average (SMA 50) price is $11.73 and its 200-day simple moving average (SMA 200) price is $14.5. The company’s stock currently has a total float of 2.55B shares. Its weekly volatility is hovering around 1.64% and felt 2.54% volatility in price over a month.
CS stock has been range bound between the range of $11.68 and $11.68 during the whole day. The stock finished Thursday at $11.75. The 1.64% uptrend helped its market value to reach at $30.13B. The price went up as high as $11.68 before retreating. Trading activity significantly weakened as the volume at ready counter decreased to 3,700,512 shares versus 4,999,680 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 3,921,400 shares. The stock is now 14.86% above against its bear-market low of $10.23 on December 26, 2018. It has retreated -70.04% since it’s 52-week high of $19.98 reached in January. Now the market price is down -33.72% on the year and up 8.2% YTD.
Wall Street’s most bullish Credit Suisse Group AG (NYSE:CS) analysts are predicting the share price to blow past $21.93 per share during the next 12 months. The current median share price forecast by them is $15.5, suggesting that the stock could increase 31.91% in that time frame. The average price target of $16.11 calls for a nearly 37.11% increase in the stock price.
It had seen a negative analyst call from Morgan Stanley, which downgraded the stock from Overweight to Equal-Weight on November 27. Analysts at RBC Capital Mkts, shed their positive views on November 23 by lowering it fromOutperform to Sector Perform. The stock lost favor of Keefe Bruyette analysts who expressed their lack of confidence in it using a downgrade from Outperform to Mkt Perform on November 21.
When looking at valuations, Credit Suisse Group AG (CS) has a cheap P/E of 15.73x as compared to industry average of 18.6x. Moreover, it trades for 7.47 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.7x price/book and 1.63x price/sales. Compared to others, Credit Suisse Group AG is in a different league with regards to profitability, having net margins of -2%. To put some perspective around this, the industry’s average net margin is 33.03%. CS’s ROE is -0.8%, which is also considerably worse than the industry’s ROE of 16.94%.
Shares of Credit Suisse Group AG (CS) have dropped -10.6% since the company’s Dec-19 earnings report. Revenue for the recent quarter stood at $1.11 million, up 3600% on last year and above the $500000 predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $22.31 billion to $22.31 billion, which should be compared with $0 generated last year.