Zacks Investment Research upgraded shares of VOLVO AB/ADR (OTCMKTS:VLVLY) from a hold rating to a buy rating in a research report report published on Saturday morning, Zacks.com reports. The brokerage currently has $17.00 price target on the stock.
According to Zacks, “AB Volvo is the parent company of the Volvo Group. The Volvo Group is a manufacturer of trucks, buses, construction equipment, diesel engines, and marine and industrial engines. The Volvo Group also provides solutions for financing and service. Its segments include Trucks, Construction Equipment, Buses, Volvo Penta, Group functions & Other, and Financial Services. The Company’s brand portfolio consists of Volvo, Volvo Penta, UD, Terex Trucks, Renault Trucks, Prevost, Nova Bus and Mack. In addition to vehicles and machines, its offering includes a range of services, such as insurance, rental services, spare parts, preventive maintenance, service agreements, assistance services and information technology (IT) services. Its product range is divided into Vehicles and Services. The sale of new vehicles, machinery and engines comprise Vehicles, as well as the sale of used vehicles and machines, trailers, superstructures and special vehicles. Its Services include the sale of spare parts. “
Other research analysts have also recently issued research reports about the company. Goldman Sachs Group started coverage on VOLVO AB/ADR in a research note on Tuesday, April 2nd. They issued a buy rating on the stock. Robert W. Baird upgraded VOLVO AB/ADR from an underperform rating to a neutral rating in a research note on Thursday, February 7th. OTR Global cut VOLVO AB/ADR to a positive rating in a research note on Thursday, January 24th. Finally, JPMorgan Chase & Co. reiterated a neutral rating on shares of VOLVO AB/ADR in a research note on Monday, January 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $17.00.
Shares of OTCMKTS VLVLY opened at $15.79 on Friday. VOLVO AB/ADR has a 1-year low of $12.06 and a 1-year high of $19.18. The stock has a market capitalization of $32.07 billion, a PE ratio of 9.34, a P/E/G ratio of 1.89 and a beta of 1.33.
VOLVO AB/ADR (OTCMKTS:VLVLY) last issued its earnings results on Wednesday, January 30th. The company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.06. VOLVO AB/ADR had a return on equity of 24.85% and a net margin of 6.40%. The company had revenue of $11.70 billion during the quarter, compared to the consensus estimate of $11.43 billion. As a group, research analysts expect that VOLVO AB/ADR will post 1.68 EPS for the current fiscal year.
The firm also recently declared an annual dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a $0.863 dividend. This represents a dividend yield of 5.93%. The ex-dividend date is Thursday, April 4th. VOLVO AB/ADR’s dividend payout ratio (DPR) is 50.89%.
About VOLVO AB/ADR
AB Volvo (publ), together with its subsidiaries, manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, North America, South America, Asia, and internationally. The company offers trucks for long-haulage, construction, and distribution purposes under the Volvo, UD, Renault, Mack, Eicher, and Dongfeng Trucks brands; and city and intercity buses, coaches, and bus chassis under the Volvo, UD, Prevost, and Nova Bus brands.
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