BB Seguridade Participacoes (OTCMKTS:BBSEY) Reaches New 52-Week High - Here's What Happened

Key Points

• BBSEY reached a new 52-week high, trading as high as $8.59 versus its prior close of $8.42, with 42,729 shares changing hands.
• Analyst sentiment remains cautious: Zacks upgraded the stock to “hold,” Citigroup downgraded it to “sell,” and the overall consensus rating is “Reduce.”
• The company exceeded quarterly expectations, reporting $0.25 in earnings per share versus a $0.21 estimate and revenue of $508.16 million against a $489.08 million consensus forecast.

BB Seguridade Participacoes SA (OTCMKTS:BBSEY - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $8.59 and last traded at $8.59, with a volume of 42,729 shares changing hands. The stock had previously closed at $8.42.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BBSEY. Zacks Research upgraded BB Seguridade Participacoes from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Citigroup cut shares of BB Seguridade Participacoes to a "sell" rating in a report on Friday, September 11th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BB Seguridade Participacoes has an average rating of "Reduce".

BB Seguridade Participacoes Price Performance

The company's 50 day simple moving average is $7.86 and its 200 day simple moving average is $7.59. The company has a market capitalization of $16.56 billion, a PE ratio of 9.48 and a beta of 0.39.

BB Seguridade Participacoes (OTCMKTS:BBSEY - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. The business had revenue of $508.16 million during the quarter, compared to the consensus estimate of $489.08 million. BB Seguridade Participacoes had a return on equity of 79.22% and a net margin of 87.94%. On average, equities analysts forecast that BB Seguridade Participacoes SA will post 0.87 EPS for the current year.

BB Seguridade Participacoes Company Profile

BB Seguridade Participações SA is a Brazilian holding company controlled by Banco do Brasil that operates in the insurance, brokerage, private pension and related financial-protection sectors. Through its subsidiaries and strategic partnerships, the company offers products designed for individuals, businesses and rural customers.

Its activities include the distribution and intermediation of insurance products through BB Corretora, as well as participation in companies that provide life, property, rural and other insurance products.

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