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Royal Mail (LON:RMG) had its price objective reduced by Credit Suisse Group from GBX 238 ($3.11) to GBX 183 ($2.39) in a research report released on Wednesday, May 29th, ThisIsMoney.Co.Uk reports. Credit Suisse Group currently has an underperform rating on the stock.
RMG has been the topic of a number of other reports. Deutsche Bank dropped their target price on Royal Mail from GBX 250 ($3.27) to GBX 180 ($2.35) and set a sell rating on the stock in a research report on Friday, February 8th. HSBC upgraded Royal Mail to a buy rating and lowered their price objective for the stock from GBX 347 ($4.53) to GBX 300 ($3.92) in a report on Monday, February 4th. Berenberg Bank lowered their price objective on Royal Mail from GBX 280 ($3.66) to GBX 250 ($3.27) and set a sell rating on the stock in a report on Wednesday, January 30th. Liberum Capital reiterated a sell rating and issued a GBX 240 ($3.14) price objective (down from GBX 250 ($3.27)) on shares of Royal Mail in a report on Tuesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on Royal Mail from GBX 285 ($3.72) to GBX 241 ($3.15) and set an underweight rating on the stock in a report on Wednesday, January 30th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of GBX 250.46 ($3.27).
Shares of LON RMG traded up GBX 0.40 ($0.01) during trading on Wednesday, reaching GBX 206.70 ($2.70). 18,952,207 shares of the company traded hands, compared to its average volume of 5,850,000. The firm has a market capitalization of $2.07 billion and a P/E ratio of 11.81. Royal Mail has a 12-month low of GBX 192 ($2.51) and a 12-month high of GBX 515.80 ($6.74). The company has a debt-to-equity ratio of 12.04, a quick ratio of 0.78 and a current ratio of 0.82.
The firm also recently declared a dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 25th will be paid a GBX 17 ($0.22) dividend. This is an increase from Royal Mail’s previous dividend of $8.00. The ex-dividend date of this dividend is Thursday, July 25th. This represents a dividend yield of 7.43%. Royal Mail’s payout ratio is 1.43%.
In related news, insider Rico Back acquired 51,702 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was bought at an average price of GBX 199 ($2.60) per share, for a total transaction of £102,886.98 ($134,440.06). In the last quarter, insiders have purchased 251,794 shares of company stock valued at $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.
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