Royal Mail (LON:RMG) Upgraded at Societe Generale

Societe Generale upgraded shares of Royal Mail (LON:RMG) to a hold rating in a research report released on Friday, June 14th, ThisIsMoney.Co.Uk reports. The brokerage currently has GBX 208 ($2.72) price objective on the stock, down from their previous price objective of GBX 235 ($3.07).

A number of other research analysts have also commented on RMG. Berenberg Bank raised shares of Royal Mail to a hold rating and cut their price objective for the company from GBX 250 ($3.27) to GBX 240 ($3.14) in a research report on Monday, April 1st. Liberum Capital reissued a sell rating on shares of Royal Mail in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. reissued an underweight rating on shares of Royal Mail in a research note on Wednesday, May 15th. Barclays lowered their target price on shares of Royal Mail from GBX 410 ($5.36) to GBX 250 ($3.27) and set an overweight rating on the stock in a research note on Wednesday, May 22nd. Finally, Goldman Sachs Group raised shares of Royal Mail to a buy rating and lowered their target price for the company from GBX 360 ($4.70) to GBX 320 ($4.18) in a research note on Friday, May 24th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Royal Mail presently has an average rating of Hold and an average target price of GBX 250.46 ($3.27).

Shares of RMG traded down GBX 2.50 ($0.03) during trading hours on Friday, reaching GBX 211.20 ($2.76). 3,783,525 shares of the company traded hands, compared to its average volume of 5,850,000. The firm has a fifty day moving average of GBX 207.76. The firm has a market cap of $2.11 billion and a PE ratio of 12.07. The company has a current ratio of 0.82, a quick ratio of 0.73 and a debt-to-equity ratio of 12.04. Royal Mail has a 1-year low of GBX 192 ($2.51) and a 1-year high of GBX 499.10 ($6.52).

The company also recently disclosed a dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 25th will be paid a dividend of GBX 17 ($0.22) per share. This represents a yield of 7.43%. This is a boost from Royal Mail’s previous dividend of $8.00. The ex-dividend date is Thursday, July 25th. Royal Mail’s dividend payout ratio is currently 1.43%.

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

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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