Royal Mail (LON:RMG) Upgraded to Neutral by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Royal Mail (LON:RMG) to a neutral rating in a research report released on Tuesday, June 4th, ThisIsMoney.Co.Uk reports. They currently have GBX 252 ($3.29) price target on the stock, up from their previous price target of GBX 241 ($3.15).

RMG has been the topic of several other research reports. Deutsche Bank dropped their price objective on shares of Royal Mail from GBX 180 ($2.35) to GBX 150 ($1.96) and set a sell rating on the stock in a report on Tuesday, June 4th. Jefferies Financial Group dropped their price objective on shares of 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. Credit Suisse Group dropped their price objective on shares of Royal Mail from GBX 238 ($3.11) to GBX 183 ($2.39) and set an underperform rating on the stock in a report on Wednesday, May 29th. Goldman Sachs Group upgraded shares of Royal Mail to a buy rating and dropped their price objective for the company from GBX 360 ($4.70) to GBX 320 ($4.18) in a report on Friday, May 24th. Finally, Liberum Capital upgraded shares of Royal Mail to a hold rating and dropped their price objective for the company from GBX 240 ($3.14) to GBX 185 ($2.42) in a report on Friday, May 24th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average price target of GBX 250.46 ($3.27).

RMG traded up GBX 11.80 ($0.15) during trading on Tuesday, reaching GBX 212.10 ($2.77). 10,367,007 shares of the stock traded hands, compared to its average volume of 5,850,000. 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 stock has a market capitalization of $2.12 billion and a PE ratio of 12.12. The company has a 50-day simple moving average of GBX 213.01. Royal Mail has a 12 month low of GBX 192 ($2.51) and a 12 month high of GBX 511.80 ($6.69).

The business also recently disclosed a dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 25th will be given a dividend of GBX 17 ($0.22) per share. The ex-dividend date 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 (DPR) is 1.43%.

In related news, insider Rico Back acquired 200,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average cost of GBX 207 ($2.70) per share, with a total value of £414,000 ($540,964.33). In the last 90 days, insiders have bought 251,794 shares of company stock worth $51,708,848.

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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