Citigroup Downgrades Vedanta (NYSE:VEDL) to Neutral - DailyPolitical
17-Jan-2020 07:43:46 PM
Jan 17, 2020
Vedanta (NYSE:VEDL)was downgraded by analysts at Citigroup from a "buy" rating to a "neutral" rating in a note issued to investors on Friday, The Fly reports.
Separately, ValuEngine upgraded Vedanta from a "hold" rating to a "buy" rating in a report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of "Hold".
Shares of NYSE VEDL opened at $9.08 on Friday. Vedanta has a 1 year low of $7.04 and a 1 year high of $11.37. The firm's 50 day moving average price is $8.52 and its 200 day moving average price is $8.53. The firm has a market cap of $8.55 billion, a P/E ratio of 8.50 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.79.
Vedanta (NYSE:VEDL) last issued its quarterly earnings results on Thursday, November 14th. The basic materials company reported $0.24 earnings per share for the quarter. The company had revenue of $3.24 billion during the quarter. Vedanta had a return on equity of 18.05% and a net margin of 8.48%.
Hedge funds have recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of Vedanta during the 3rd quarter worth $216,000. Squarepoint Ops LLC acquired a new position in Vedanta in the third quarter valued at $91,000. Banco de Sabadell S.A purchased a new stake in Vedanta during the third quarter valued at about $516,000. Parametric Portfolio Associates LLC grew its position in Vedanta by 8.1% during the third quarter. Parametric Portfolio Associates LLC now owns 1,217,982 shares of the basic materials company's stock valued at $10,572,000 after acquiring an additional 91,746 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Vedanta during the third quarter valued at about $101,000. Institutional investors and hedge funds own 3.57% of the company's stock.