Capital One Financial Corp. (NYSE:COF) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday, American Banking & Market News reports. They currently have a $76.00 price objective on the stock. Zacks‘ price objective indicates a potential upside of 6.10% from the stock’s previous close.
Zacks‘ analyst wrote, “We are downgrading our long-term recommendation on Capital One to Neutral due to a persistent rise in operating expenses. However the company’s third-quarter 2013 earnings substantially outpaced the Zacks Consensus Estimate. The quarter witnessed higher-than-expected revenues and improved profitability ratios. However, higher expenses and deteriorating capital ratios were the dampeners. Exposures to commercial real estate, weak demand for loans, elevated expenses and the impact of new regulations are expected to adversely impact the company’s financials. However, we anticipate continued synergies from its geographic diversification and inorganic growth strategy. Moreover, the resilience shown by most of the company’s businesses will continue to support its financials going forward. “
Shares of Capital One Financial Corp. (NYSE:COF) traded down 0.65% on Tuesday, hitting $71.63. 4,229,256 shares of the company’s stock traded hands. Capital One Financial Corp. has a 52-week low of $50.21 and a 52-week high of $73.00. The stock’s 50-day moving average is $70.39 and its 200-day moving average is $66.98. The company has a market cap of $41.710 billion and a P/E ratio of 10.41.
Capital One Financial Corp. (NYSE:COF) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.86 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.76 by $0.10. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter last year, the company posted $2.01 earnings per share. Capital One Financial Corp.’s revenue was up .2% compared to the same quarter last year. Analysts expect that Capital One Financial Corp. will post $7.05 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Janney Montgomery Scott raised their price target on shares of Capital One Financial Corp. from $70.00 to $75.00 in a research note to investors on Friday, October 18th. They now have a “neutral” rating on the stock. Separately, analysts at Guggenheim raised their price target on shares of Capital One Financial Corp. from $78.00 to $82.00 in a research note to investors on Friday, October 18th. They now have a “buy” rating on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Capital One Financial Corp. from $80.00 to $82.00 in a research note to investors on Friday, October 18th. They now have an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Capital One Financial Corp. has a consensus rating of “Buy” and an average price target of $75.56.
In other Capital One Financial Corp. news, Insider Jory A. Berson sold 26,372 shares of Capital One Financial Corp. stock on the open market in a transaction dated Friday, November 29th. The stock was sold at an average price of $72.00, for a total value of $1,898,784.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Capital One Financial Corporation is a diversified financial services holding company with banking and non-banking subsidiaries.
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