Castings (LON:CGS) Announces Earnings Results

Castings (LON:CGS) released its quarterly earnings results on Wednesday. The company reported GBX 8.58 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Castings had a net margin of 7.45% and a return on equity of 12.83%.

Castings Price Performance

LON:CGS traded up GBX 21 during trading hours on Wednesday, reaching GBX 255. 75,488 shares of the stock were exchanged, compared to its average volume of 42,321. Castings has a twelve month low of GBX 224 and a twelve month high of GBX 332. The firm has a 50 day moving average of GBX 254.61 and a 200 day moving average of GBX 268.98. The stock has a market cap of £110.87 million, a PE ratio of 26.67 and a beta of 0.60.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 335 price target on shares of Castings in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of GBX 337.50.

Insider Activity

In related news, insider Steve Mant bought 7,875 shares of the stock in a transaction that occurred on Thursday, October 9th. The shares were acquired at an average price of GBX 254 per share, with a total value of £20,002.50. 1.04% of the stock is owned by company insiders.

Castings Company Profile

Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.