Royal Mail (LON:RMG) Downgraded by HSBC to Hold

Royal Mail (LON:RMG) was downgraded by research analysts at HSBC to a “hold” rating in a research report issued on Friday, June 7th, ThisIsMoney.Co.Uk reports. They currently have a GBX 216 ($2.82) price objective on the stock, down from their previous price objective of GBX 300 ($3.92). HSBC’s target price indicates a potential upside of 1.93% from the stock’s previous close.

RMG has been the topic of several other reports. Liberum Capital reaffirmed a “sell” rating and set a GBX 240 ($3.14) target price on shares of Royal Mail in a report on Wednesday, May 22nd. UBS Group reaffirmed a “neutral” rating and set a GBX 282 ($3.68) target price (down from GBX 354 ($4.63)) on shares of Royal Mail in a report on Monday, February 11th. Jefferies Financial Group dropped their target price on Royal Mail from GBX 220 ($2.87) to GBX 170 ($2.22) and set an “underperform” rating on the stock in a report on Monday, June 3rd. Barclays dropped their target price on Royal Mail from GBX 410 ($5.36) to GBX 250 ($3.27) and set an “overweight” rating on the stock in a report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. raised Royal Mail to a “neutral” rating and raised their target price for the stock from GBX 241 ($3.15) to GBX 252 ($3.29) in a report on Tuesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Royal Mail currently has an average rating of “Hold” and an average price target of GBX 250.46 ($3.27).

Shares of LON:RMG traded down GBX 0.20 ($0.00) during trading on Friday, hitting GBX 211.90 ($2.77). The stock had a trading volume of 5,593,940 shares, compared to its average volume of 5,850,000. Royal Mail has a 12-month low of GBX 192 ($2.51) and a 12-month high of GBX 511.80 ($6.69). The firm has a market capitalization of $2.12 billion and a PE ratio of 12.11. The company has a quick ratio of 0.73, a current ratio of 0.82 and a debt-to-equity ratio of 12.04. The business’s 50-day moving average price is GBX 211.82.

In other news, insider Rico Back purchased 51,702 shares of the stock in a transaction dated Tuesday, June 4th. The shares were purchased at an average cost of GBX 199 ($2.60) per share, with a total value of £102,886.98 ($134,440.06). Over the last three months, insiders acquired 251,794 shares of company stock worth $51,708,848.

Royal Mail Company Profile

Royal Mail plc, together with its subsidiaries, operates as an universal postal service provider in the United Kingdom, the United States, and other European countries. It offers parcels and letter delivery services under the Royal Mail and Parcelforce Worldwide brands. The company also provides services for the collection, sorting, and delivery of parcels and letters; and designs and produces stamps and philatelic items, as well as offers media and marketing mail services.

See Also: Rule of 72

Receive News & Ratings for Royal Mail Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Royal Mail and related companies with MarketBeat.com’s FREE daily email newsletter.