Sampo (OTCMKTS:SAXPY) Shares Pass Above 50-Day Moving Average - Here's Why

Key Points

• Sampo shares moved above their 50-day moving average during Wednesday’s trading, reaching as high as $22.18 before last trading at $21.99. The stock’s 50-day average was $21.17.
• Analyst sentiment has improved, with several firms upgrading the stock recently, including Goldman Sachs, Barclays, and Kepler Capital Markets. MarketBeat notes the overall consensus rating is now Moderate Buy.
• The company beat earnings expectations in its latest quarterly report, posting $0.30 EPS versus the $0.23 consensus estimate. Revenue came in at $4.41 billion, slightly below expectations, and analysts forecast full-year EPS of 1.3.

Sampo PLC (OTCMKTS:SAXPY - Get Free Report) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $21.17 and traded as high as $22.18. Sampo shares last traded at $21.99, with a volume of 21,323 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Sampo from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 30th. Citigroup reiterated a "neutral" rating on shares of Sampo in a research note on Friday, April 24th. The Goldman Sachs Group upgraded shares of Sampo from a "sell" rating to a "buy" rating in a research report on Thursday, July 9th. Barclays raised shares of Sampo from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, May 27th. Finally, Kepler Capital Markets upgraded shares of Sampo to a "strong-buy" rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Sampo Price Performance

The stock has a 50 day moving average price of $21.17 and a two-hundred day moving average price of $21.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $116.80 billion, a PE ratio of 15.27 and a beta of 0.40.

Sampo (OTCMKTS:SAXPY - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.07. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. Equities analysts forecast that Sampo PLC will post 1.3 earnings per share for the current year.

About Sampo

Sampo plc is a Finland-based insurance and financial services group that primarily underwrites property and casualty (P&C) insurance while also offering life insurance and related financial products. The company operates through subsidiaries that provide a mix of retail and corporate insurance solutions, claims handling and risk management services. Its business model emphasizes underwriting discipline and diversified exposure across personal, commercial and specialty insurance lines.

Sampo's operations include well-known subsidiaries that deliver core products and services: a Nordic P&C insurer that writes motor, property, liability and specialty lines, and a life insurance and wealth management arm that offers savings, pension solutions and asset management services.

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