Credit Suisse Group (CS) Is Strong On High Volume Today
Trade-Ideas LLC identified
(
) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Credit Suisse Group as such a stock due to the following factors:
- CS has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $58.2 million.
- CS has traded 1.0 million shares today.
- CS is trading at 4.32 times the normal volume for the stock at this time of day.
- CS is trading at a new high 3.03% above yesterday's close.
'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.
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More details on CS:
Credit Suisse Group AG, together with its subsidiaries, provides various financial services worldwide. It operates through Swiss Universal Bank, International Wealth Management, Asia Pacific, Global Markets, and Investment Banking & Capital Markets segments. The stock currently has a dividend yield of 5.7%. Currently there is 1 analyst that rates Credit Suisse Group a buy, 1 analyst rates it a sell, and none rate it a hold.
The average volume for Credit Suisse Group has been 3.2 million shares per day over the past 30 days. Credit Suisse Group has a market cap of $24.9 billion and is part of the financial sector and banking industry. Shares are down 39% year-to-date as of the close of trading on Wednesday.
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Analysis:
rates Credit Suisse Group as a
. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
Highlights from the ratings report include:
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Capital Markets industry. The net income has significantly decreased by 1008.7% when compared to the same quarter one year ago, falling from $648.19 million to -$5,889.99 million.
- Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Capital Markets industry and the overall market, CREDIT SUISSE GROUP's return on equity significantly trails that of both the industry average and the S&P 500.
- Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 50.21%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 965.78% compared to the year-earlier quarter. Turning toward the future, the fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it could be one of the factors that may help make the stock attractive down the road. Right now, however, we believe that it is too soon to buy.
- CREDIT SUISSE GROUP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past two years. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, CREDIT SUISSE GROUP swung to a loss, reporting -$1.56 versus $1.01 in the prior year. This year, the market expects an improvement in earnings ($0.93 versus -$1.56).
- Regardless of the drop in revenue, the company managed to outperform against the industry average of 24.4%. Since the same quarter one year prior, revenues fell by 23.2%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
- You can view the full Credit Suisse Group Ratings Report.
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