Mercedes-Benz Group (OTCMKTS:MBGYY) Announces Quarterly Earnings Results

Mercedes-Benz Group (OTCMKTS:MBGYY) released its quarterly earnings data on Wednesday. The company reported C$0.47 earnings per share for the quarter, Zacks reports.

Mercedes-Benz Group Stock Performance

Shares of MBGYY traded up C$0.11 during mid-day trading on Wednesday, hitting C$11.13. 18,320 shares of the company were exchanged, compared to its average volume of 476,893. Mercedes-Benz Group has a 1-year low of C$10.83 and a 1-year high of C$18.16. The company has a 50 day moving average of C$12.28 and a 200-day moving average of C$14.29. The stock has a market cap of C$42.87 billion, a price-to-earnings ratio of 7.18 and a beta of 0.88.

Analysts Set New Price Targets

A number of brokerages have weighed in on MBGYY. Zacks Research upgraded shares of Mercedes-Benz Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Dbs Bank raised Mercedes-Benz Group from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, September 30th. Four investment analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

About Mercedes-Benz Group

Mercedes-Benz Group AG is a Germany-based automotive company headquartered in Stuttgart. Formerly known as Daimler AG, the company adopted its current name in February 2022 after reorganizing its business around the Mercedes-Benz brand and related mobility activities.

The company develops, manufactures and sells premium passenger cars and luxury vehicles under the Mercedes-Benz, Mercedes-AMG and Mercedes-Maybach brands. Its product range includes sedans, SUVs, coupes, convertibles and electric vehicles.