Chemring Group (LON:CHG) Price Target Lowered to GBX 580 at Royal Bank Of Canada

Chemring Group (LON:CHG) had its target price decreased by equities research analysts at Royal Bank Of Canada from GBX 600 to GBX 580 in a research note issued to investors on Wednesday,Digital Look reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 17.79% from the stock’s previous close.

Chemring Group Stock Performance

LON:CHG opened at GBX 492.40 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 40.39. Chemring Group has a fifty-two week low of GBX 446.52 and a fifty-two week high of GBX 614. The stock has a market cap of £1.33 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.99 and a beta of 0.82. The firm’s fifty day simple moving average is GBX 519.96 and its 200-day simple moving average is GBX 511.28.

Chemring Group (LON:CHG) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported GBX 6.20 earnings per share for the quarter. Chemring Group had a net margin of 9.69% and a return on equity of 13.12%. The business had revenue of £237.30 million for the quarter. Analysts expect that Chemring Group will post 24.8815166 earnings per share for the current fiscal year.

About Chemring Group

We are a specialist manufacturing and technology business creating market-leading innovative solutions to meet our customers’ complex needs.

Using our extensive science and engineering expertise, we turn ideas into reality, designing and developing critical solutions that protect and safeguard in unpredictable environments in today’s increasingly unstable world.

We achieve this by innovating at every stage of the value chain, from research and development (“R&D”) through to design, manufacture and in-service support, working closely with our customers to deliver products, services and solutions for mission-critical success.

Our customer base spans national defence organisations, security and law enforcement agencies, as well as commercial markets such as space and transport.