Sampo (OTCMKTS:SAXPY) Share Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Sampo's share price has recently surpassed its 50-day moving average, trading at $23.19 with a high of $23.27 and significant volume of 29,421 shares.
• Research analysts have provided mixed ratings on Sampo, with Citigroup maintaining a "neutral" rating while Berenberg Bank upgraded it to a "strong-buy."
• The company reported a profit of $0.32 EPS for the last quarter, exceeding expectations of $0.22, alongside revenue of $2.77 billion, which was above the forecast of $2.19 billion.

Sampo PLC (OTCMKTS:SAXPY - Get Free Report)'s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $22.43 and traded as high as $23.27. Sampo shares last traded at $23.19, with a volume of 29,421 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SAXPY shares. Citigroup reaffirmed a "neutral" rating on shares of Sampo in a research report on Wednesday, September 3rd. Berenberg Bank raised shares of Sampo to a "strong-buy" rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Sampo Price Performance

The firm's fifty day moving average price is $22.43 and its 200 day moving average price is $20.85. The firm has a market capitalization of $124.82 billion, a PE ratio of 23.05 and a beta of 0.54. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.43.

Sampo (OTCMKTS:SAXPY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.22 by $0.10. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.19 billion.

About Sampo

Sampo Oyj, together with its subsidiaries, engages in the provision of non-life insurance products and services in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Latvia, and the United Kingdom. The company operates through If, Topdanmark, Hastings, Mandatum, and Holding segments. It offers property, casualty, liability, accident, sickness, household, homeowner, motor, travel, marine, aviation, transport, forest, livestock, health, workers compensation, car, van, and bike insurance services, as well as reinsurance services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.