Zacks Research Upgrades Danske Bank (OTCMKTS:DNKEY) to Strong-Buy

Key Points

• Zacks Research upgraded Danske Bank from “hold” to “strong buy,” while other analysts remain broadly positive; MarketBeat data shows an overall “moderate buy” consensus.
• Danske Bank shares opened at $28.60, near their 52-week high of $29.41, with a market capitalization of $46.66 billion and a price-to-earnings ratio of 12.65.
• The bank exceeded quarterly expectations, reporting $0.59 in EPS versus the $0.56 consensus and revenue of $2.32 billion versus $2.24 billion expected.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the stock. Citigroup reaffirmed a "buy" rating on shares of Danske Bank in a research note on Monday, July 6th. Morgan Stanley reissued an "overweight" rating on shares of Danske Bank in a research report on Wednesday, June 24th. The Goldman Sachs Group restated a "neutral" rating on shares of Danske Bank in a report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Danske Bank in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

Danske Bank Stock Performance

Shares of OTCMKTS DNKEY opened at $28.60 on Tuesday. The stock's fifty day simple moving average is $27.48 and its 200 day simple moving average is $26.31. The stock has a market capitalization of $46.66 billion, a price-to-earnings ratio of 12.65 and a beta of 0.61. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 8.09. Danske Bank has a 52-week low of $20.16 and a 52-week high of $29.41.

Danske Bank (OTCMKTS:DNKEY - Get Free Report) last announced its earnings results on Friday, July 17th. The financial services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.24 billion. Danske Bank had a return on equity of 13.80% and a net margin of 40.85%. As a group, sell-side analysts forecast that Danske Bank will post 2.29 earnings per share for the current fiscal year.

About Danske Bank

Danske Bank A/S is a major Danish banking group headquartered in Copenhagen. The firm traces its origins to the 19th century and has grown through mergers and organic expansion into one of the region's largest financial institutions. Its shares are primarily listed on Nasdaq Copenhagen, and American investors may encounter the bank's ADR trading on the U.S. over-the-counter market under the symbol DNKEY.

The bank provides a broad range of financial products and services across retail, commercial and institutional segments.

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