Clarkson (LON:CKN) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Clarkson PLC's share price has surpassed its 200-day moving average, reaching GBX 3,505 ($46.69) during trading, indicating potential positive momentum.
• Wall Street analysts have a strong outlook on Clarkson, with three firms issuing a buy rating and target prices of GBX 4,250 and GBX 4,150, leading to an average target price of GBX 3,950.
• The company reported significant financials, with earnings per share of GBX 98.60 and a return on equity of 17.96%, demonstrating robust profitability.

Clarkson PLC (LON:CKN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 3,405.95 ($45.37) and traded as high as GBX 3,505 ($46.69). Clarkson shares last traded at GBX 3,460 ($46.09), with a volume of 3,376,295 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CKN. Berenberg Bank restated a "buy" rating and set a GBX 4,250 target price on shares of Clarkson in a research report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 4,150 price target on shares of Clarkson in a research report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of GBX 3,950.

Clarkson Price Performance

The business's 50-day moving average is GBX 3,553.86 and its two-hundred day moving average is GBX 3,405.95. The company has a debt-to-equity ratio of 8.45, a quick ratio of 1.69 and a current ratio of 1.79. The firm has a market capitalization of £1.06 billion, a price-to-earnings ratio of 1,419.20 and a beta of 1.12.

Clarkson (LON:CKN - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported GBX 98.60 earnings per share (EPS) for the quarter. Clarkson had a return on equity of 17.96% and a net margin of 13.10%. On average, equities analysts anticipate that Clarkson PLC will post 283.011583 earnings per share for the current year.

About Clarkson

Clarkson PLC provides integrated shipping services worldwide. The company's Broking segment offers services to shipowners and charterers in the transportation of various cargoes by sea; and to buyers and sellers/yards related to sale and purchase transactions, as well as futures broking operation.

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