Canaccord Genuity Group Issues Pessimistic Forecast for Clarkson (LON:CKN) Stock Price

Clarkson (LON:CKN) had its price objective cut by Canaccord Genuity Group from GBX 4,500 ($58.29) to GBX 4,000 ($51.81) in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 10.80% from the stock’s current price.

Separately, Berenberg Bank lowered their price objective on shares of Clarkson from GBX 5,075 ($65.74) to GBX 4,800 ($62.18) and set a “buy” rating on the stock in a research report on Tuesday.

Clarkson Stock Performance

Shares of CKN opened at GBX 3,610 ($46.76) on Wednesday. The company’s 50 day moving average price is GBX 4,237.10 and its 200 day moving average price is GBX 3,915.13. Clarkson has a 52 week low of GBX 3,345 ($43.33) and a 52 week high of GBX 4,675 ($60.56). The company has a market capitalization of £1.11 billion, a PE ratio of 13.43 and a beta of 1.12. The company has a debt-to-equity ratio of 8.45, a quick ratio of 1.69 and a current ratio of 1.79.

Clarkson (LON:CKN) last announced its quarterly earnings data on Monday, March 10th. The company reported GBX 286.90 ($3.72) EPS for the quarter. Clarkson had a net margin of 13.10% and a return on equity of 17.96%. Research analysts expect that Clarkson will post 283.011583 EPS for the current fiscal year.

About Clarkson

Clarkson PLC provides integrated shipping services worldwide. The company's Broking segment offers services to shipowners and charterers in the transportation of various cargoes by sea; and to buyers and sellers/yards related to sale and purchase transactions, as well as futures broking operation.