Investment analysts at Jefferies Group cut their price target on shares of Bank of New York Mellon Corp. (NYSE:BK) to $34.00 in a note issued to investors on Monday, AR Network reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 13.64% from the stock’s previous close.
A number of other analysts have also recently weighed in on BK. Analysts at Guggenheim cut their price target on shares of Bank of New York Mellon Corp. (NYSE:BK) from $38.00 to $36.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Bank of New York Mellon Corp. (NYSE:BK) in a research note to investors on Monday, September 9th. They now have a $32.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $31.39.
Bank of New York Mellon Corp. (NYSE:BK) traded down 1.77% on Monday, hitting $29.92. The stock had a trading volume of 6,022,159 shares. Bank of New York Mellon Corp. has a 52 week low of $22.63 and a 52 week high of $32.36. The stock has a 50-day moving average of $30.59 and a 200-day moving average of $29.60. The company has a market cap of $34.422 billion and a P/E ratio of 18.87.
Bank of New York Mellon Corp. (NYSE:BK) last released its earnings data on Wednesday, July 17th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.57 by $0.14. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts predict that Bank of New York Mellon Corp. will post $2.30 earnings per share for the current fiscal year.
The Bank of New York Mellon Corporation (NYSE:BK) is a global financial services company.
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