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Royal Mail (LON:RMG) was downgraded by equities researchers at JPMorgan Chase & Co. to an “underweight” rating in a note issued to investors on Tuesday, ThisIsMoney.Co.Uk reports. They currently have a GBX 192 ($2.51) target price on the stock, down from their previous target price of GBX 252 ($3.29). JPMorgan Chase & Co.‘s price objective points to a potential downside of 8.40% from the stock’s current price.
Other research analysts have also issued reports about the stock. Royal Bank of Canada decreased their price target on shares of Royal Mail from GBX 315 ($4.12) to GBX 200 ($2.61) and set a “sector performer” rating on the stock in a research note on Wednesday, October 9th. Goldman Sachs Group decreased their price target on shares of Royal Mail from GBX 320 ($4.18) to GBX 310 ($4.05) and set a “buy” rating on the stock in a research note on Monday. Barclays reaffirmed an “overweight” rating on shares of Royal Mail in a research note on Monday, October 14th. Morgan Stanley raised shares of Royal Mail to an “equal weight” rating in a research note on Monday, July 15th. Finally, Credit Suisse Group reaffirmed an “underperform” rating on shares of Royal Mail in a research note on Thursday, October 17th. Five analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of GBX 215.50 ($2.82).
RMG stock opened at GBX 209.60 ($2.74) on Tuesday. The company’s 50-day simple moving average is GBX 215.87 and its 200-day simple moving average is GBX 218.67. The company has a quick ratio of 0.73, a current ratio of 0.82 and a debt-to-equity ratio of 12.04. Royal Mail has a 52-week low of GBX 186.80 ($2.44) and a 52-week high of GBX 370 ($4.83). The firm has a market cap of $2.09 billion and a P/E ratio of 11.98.
About Royal Mail
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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