CMC Markets (LON:CMCX) Given New GBX 760 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised CMC Markets’ price target to GBX 760 from GBX 460 and maintained an “outperform” rating, implying 4.11% upside from the prior close.
• CMC Markets shares rose 4.0% to open at GBX 730, near their 52-week high of GBX 753. Analysts’ consensus rating is “Moderate Buy,” with an average target price of GBX 462.50.
• Insiders sold nearly 198,000 shares worth approximately £141.2 million over the past 90 days, while insiders continue to own 64.83% of the company.

CMC Markets (LON:CMCX - Get Free Report) had its target price hoisted by stock analysts at Royal Bank Of Canada from GBX 460 to GBX 760 in a research report issued on Monday,Digital Look reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 4.11% from the company's previous close.

Separately, Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 500 target price on shares of CMC Markets in a report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, CMC Markets currently has an average rating of "Moderate Buy" and an average target price of GBX 462.50.

CMC Markets Stock Up 4.0%

Shares of CMCX stock opened at GBX 730 on Monday. CMC Markets has a 1 year low of GBX 203 and a 1 year high of GBX 753. The stock has a market cap of £1.97 billion, a PE ratio of 26.55 and a beta of 0.61. The business's fifty day moving average is GBX 620.90 and its 200-day moving average is GBX 448.08. The company has a debt-to-equity ratio of 24.66, a quick ratio of 2.47 and a current ratio of 16.94.

CMC Markets (LON:CMCX - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The company reported GBX 27.50 EPS for the quarter. The company had revenue of £376.76 million for the quarter. CMC Markets had a return on equity of 16.86% and a net margin of 18.09%. Equities analysts expect that CMC Markets will post 20.9884902 earnings per share for the current fiscal year.

Insider Activity at CMC Markets

In other CMC Markets news, insider Peter Cruddas sold 23,850 shares of CMC Markets stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of GBX 703, for a total value of £167,665.50. Also, insider Laurence Booth sold 155,138 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of GBX 713, for a total value of £1,106,133.94. In the last 90 days, insiders sold 197,827 shares of company stock worth $141,207,770. 64.83% of the stock is currently owned by company insiders.

About CMC Markets

CMC is a leading global provider of online trading and investing, with a comprehensive retail, professional and institutional offering. The business was started in 1989 with a simple ethos: to make financial markets truly accessible for investors. We are proud of our strong heritage and our successful 30-year track record as an innovator at the forefront of enabling digital trading for our clients.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source