KBC Group (OTCMKTS:KBCSY) Shares Gap Down – Here’s Why

KBC Group SA (OTCMKTS:KBCSY)’s stock price gapped down before the market opened on Monday. The stock had previously closed at $67.77, but opened at $65.59. KBC Group shares last traded at $65.43, with a volume of 1,403 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KBCSY. Citigroup reaffirmed a “neutral” rating on shares of KBC Group in a research note on Tuesday, September 29th. Royal Bank Of Canada restated a “sector perform” rating on shares of KBC Group in a report on Monday, August 10th. Finally, Jefferies Financial Group assumed coverage on KBC Group in a research report on Wednesday, September 16th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

KBC Group Price Performance

The firm has a market capitalization of $54.51 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.85 and a beta of 0.64. The business’s 50-day moving average price is $74.12 and its 200-day moving average price is $69.74.

KBC Group (OTCMKTS:KBCSY) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. KBC Group had a return on equity of 13.42% and a net margin of 15.58%. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.83 billion. Equities analysts forecast that KBC Group SA will post 5.85 earnings per share for the current year.

About KBC Group

KBC Group is a Belgian financial services group headquartered in Brussels. It operates as an integrated bank-insurance organization, combining banking and insurance activities through closely connected distribution networks and digital channels.

The group provides retail, business and private banking services, including current and savings accounts, lending, payments, investment products, asset management and financial advice. Its insurance operations offer life and non-life coverage, including products for individuals, families and businesses.

KBC serves customers primarily in Belgium and selected Central and Eastern European markets, including the Czech Republic, Slovakia, Hungary and Bulgaria.