Everest Group (NYSE:EG) Issues Earnings Results, Beats Expectations By $0.33 EPS

Everest Group (NYSE:EG) announced its quarterly earnings data on Wednesday. The company reported $14.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.52 by $0.33, FiscalAI reports. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.99 billion. Everest Group had a net margin of 11.76% and a return on equity of 14.70%.

Everest Group Stock Down 1.2%

NYSE EG traded down $4.75 on Wednesday, reaching $393.95. 458,217 shares of the stock traded hands, compared to its average volume of 378,741. Everest Group has a 12 month low of $302.44 and a 12 month high of $401.07. The company has a market cap of $15.59 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 0.61 and a beta of 0.29. The company has a fifty day moving average price of $354.19 and a 200-day moving average price of $341.17. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.37 and a current ratio of 0.37.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $8.00 annualized dividend and a yield of 2.0%. Everest Group’s dividend payout ratio is 16.27%.

Insider Activity

In other news, CEO Jason Keen sold 775 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $351.84, for a total transaction of $272,676.00. Following the transaction, the chief executive officer owned 8,170 shares of the company’s stock, valued at approximately $2,874,532.80. This represents a 8.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Institutional Trading of Everest Group

Hedge funds have recently added to or reduced their stakes in the business. Raiffeisen Bank International AG bought a new position in Everest Group during the 4th quarter worth about $34,000. CYBER HORNET ETFs LLC bought a new stake in shares of Everest Group in the 2nd quarter valued at about $39,000. MUFG Securities EMEA plc purchased a new stake in shares of Everest Group in the 2nd quarter worth approximately $43,000. Brown Brothers Harriman & Co. lifted its position in shares of Everest Group by 57.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 134 shares of the company’s stock worth $47,000 after purchasing an additional 49 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Everest Group by 40.2% during the fourth quarter. UMB Bank n.a. now owns 150 shares of the company’s stock valued at $51,000 after purchasing an additional 43 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EG shares. Barclays upped their target price on Everest Group from $380.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Morgan Stanley upped their price objective on Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Citigroup lifted their target price on Everest Group from $342.00 to $395.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. UBS Group set a $355.00 target price on shares of Everest Group in a research note on Thursday, May 21st. Finally, Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $411.00 to $414.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $387.73.

Everest Group Company Profile

Everest Group (NYSE:EG) is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.

With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.