Royal Mail (LON:RMG) Upgraded to “Equal weight” at Morgan Stanley

Morgan Stanley upgraded shares of Royal Mail (LON:RMG) to an equal weight rating in a report published on Monday, ThisIsMoney.Co.Uk reports.

A number of other research analysts also recently weighed in on the company. Barclays reissued a hold rating and issued a $102.00 price target on shares of Cboe Global Markets in a research note on Friday. Liberum Capital restated a hold rating on shares of Daily Mail and General Trust P L C in a research report on Tuesday, July 2nd. Goldman Sachs Group cut shares of SUMCO CORP/ADR from a buy rating to a neutral rating in a research report on Monday, June 10th. JPMorgan Chase & Co. began coverage on shares of INTL CONS AIRL/S in a research report on Tuesday, June 4th. They issued an overweight rating for the company. Finally, Societe Generale upgraded shares of Royal Mail from a sell rating to a hold rating in a research report on Friday, June 14th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Royal Mail has an average rating of Hold and an average price target of GBX 250.46 ($3.27).

RMG stock opened at GBX 218.95 ($2.86) on Monday. The company has a fifty day moving average of GBX 206.33. The company has a debt-to-equity ratio of 12.04, a quick ratio of 0.73 and a current ratio of 0.82. The firm has a market cap of $2.17 billion and a P/E ratio of 12.51. Royal Mail has a twelve month low of GBX 192 ($2.51) and a twelve month high of GBX 499.10 ($6.52).

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

In other news, insider Rico Back bought 200,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of GBX 207 ($2.70) per share, for a total transaction of £414,000 ($540,964.33). In the last quarter, insiders have acquired 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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