Westpac Banking (NYSE:WBK) was downgraded by equities researchers at CLSA from an “underperform” rating to a “sell” rating in a research report issued to clients and investors on Monday, May 6th, The Fly reports.
WBK has been the subject of a number of other research reports. Zacks Investment Research raised shares of Westpac Banking from a “sell” rating to a “hold” rating in a research report on Saturday, March 2nd. JPMorgan Chase & Co. lowered shares of Westpac Banking from an “overweight” rating to a “neutral” rating in a research report on Wednesday, February 6th. Goldman Sachs Group downgraded shares of Westpac Banking from a “buy” rating to a “neutral” rating in a report on Thursday, January 10th. ValuEngine downgraded shares of Westpac Banking from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, Morgan Stanley downgraded shares of Westpac Banking from an “equal weight” rating to an “underweight” rating in a report on Thursday, January 31st. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $25.00.
Shares of Westpac Banking stock traded down $0.03 on Monday, hitting $19.09. 208,009 shares of the company traded hands, compared to its average volume of 321,361. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.21. Westpac Banking has a 12-month low of $16.41 and a 12-month high of $22.35. The stock has a market cap of $65.78 billion, a P/E ratio of 10.97, a P/E/G ratio of 8.80 and a beta of 1.07.
About Westpac Banking
Westpac Banking Corporation provides various banking and financial services in Australia, New Zealand, Asia, the Pacific region, and internationally. It operates through five divisions: Consumer Bank, Business Bank, BT Financial Group, Westpac Institutional Bank, and Westpac New Zealand. It offers everyday banking, savings, term deposit, moving to Australia, under 21 and student, business one, community solutions one, not-for-profit savings, and foreign currency accounts; term and farm management deposits; debit, credit, and travel money cards; home, personal, investment, small business, and commercial loans; and equipment, automotive, cash flow, property, insurance premium, corporate and structured finance, and trade and supply chain financing services.
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