Zacks Investment Research Downgrades BNP Paribas (OTCMKTS:BNPQY) to Hold

Zacks Investment Research lowered shares of BNP Paribas (OTCMKTS:BNPQY) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “BNP PARIBAS is a European leader in global banking and financial services and is one of the four strongest banks in the world according to Standard & Poor’s. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank’s two domestic markets in retail banking are France and Italy. In the United States, BNP Paribas employs 15,000 people including 2,500 employees in its Corporate and Investment Banking as well as Asset Management and Services businesses which are headquartered in New York. It is also present in other financial hubs throughout the United States including Chicago, San Francisco, Los Angeles, Dallas, Houston, Miami and Boston. BNP Paribas also operates a retail banking business through its subsidiary Bank of the West with over 700 branches in the Western US. “

A number of other equities research analysts also recently weighed in on BNPQY. JPMorgan Chase & Co. downgraded BNP Paribas from an overweight rating to a neutral rating and set a $61.00 target price for the company. in a report on Friday, September 10th. They noted that the move was a valuation call. UBS Group upgraded BNP Paribas to a buy rating and lifted their target price for the company from €50.00 ($58.82) to €57.00 ($67.06) in a research report on Tuesday, August 3rd. Royal Bank of Canada upgraded BNP Paribas to an outperform rating and lifted their target price for the company from €60.00 ($70.59) to €62.00 ($72.94) in a research report on Monday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on BNP Paribas from €59.00 ($69.41) to €61.00 ($71.76) and gave the stock a hold rating in a report on Monday, August 2nd. Finally, Berenberg Bank lifted their price objective on BNP Paribas from €48.00 ($56.47) to €52.00 ($61.18) and gave the stock a hold rating in a research note on Friday, August 6th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, BNP Paribas presently has an average rating of Buy and a consensus price target of $56.37.

Shares of BNPQY opened at $31.56 on Tuesday. The stock has a market capitalization of $78.90 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.62 and a beta of 1.66. BNP Paribas has a twelve month low of $16.78 and a twelve month high of $35.31. The company has a 50 day moving average of $31.16 and a 200-day moving average of $31.79. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.76.

BNP Paribas (OTCMKTS:BNPQY) last released its earnings results on Friday, July 30th. The financial services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.27. BNP Paribas had a net margin of 18.03% and a return on equity of 7.08%. The business had revenue of $14.19 billion during the quarter, compared to analysts’ expectations of $13.31 billion. On average, sell-side analysts anticipate that BNP Paribas will post 3.7 earnings per share for the current fiscal year.

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, October 20th. Investors of record on Monday, September 27th will be given a dividend of $0.754 per share. The ex-dividend date is Friday, September 24th. BNP Paribas’s payout ratio is 36.63%.

About BNP Paribas

BNP Paribas SA engages in the provision of banking and financial services. The company operates through the following business: Retail Banking and Services, and Corporate Institutional Banking. The Retail Banking and Services business includes the retail banking networks and specialized financial services in France and around the world.

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