Burberry Group (LON:BRBY) Shares Up 8.9% – Time to Buy?

Burberry Group plc (LON:BRBY) shares shot up 8.9% during trading on Thursday . The company traded as high as GBX 992 ($13.18) and last traded at GBX 900.63 ($11.96). 6,199,242 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 9,300,185 shares. The stock had previously closed at GBX 826.80 ($10.98).

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada cut their target price on Burberry Group from GBX 1,300 ($17.27) to GBX 1,200 ($15.94) and set an “outperform” rating on the stock in a research report on Friday, March 28th.

Burberry Group Stock Up 4.0%

The business has a 50-day moving average price of GBX 766.56 and a 200-day moving average price of GBX 911.74. The company has a market capitalization of £3.59 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.66 and a beta of 1.06. The company has a quick ratio of 1.63, a current ratio of 1.66 and a debt-to-equity ratio of 136.53.

Burberry Group (LON:BRBY) last issued its quarterly earnings results on Wednesday, May 14th. The company reported GBX (14.80) (($0.20)) earnings per share for the quarter. Burberry Group had a net margin of 9.10% and a return on equity of 23.93%. As a group, equities analysts anticipate that Burberry Group plc will post 32.6294821 earnings per share for the current fiscal year.

Burberry Group Company Profile

Burberry Group plc, together with its subsidiaries, manufactures, retails, and wholesales luxury goods under the Burberry brand. The company operates in two segments, Retail/Wholesale and Licensing. It provides womenswear, menswear, childrenswear, beauty, eyewear, shoes, and accessories, as well as leather goods, such as bags.