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Sanford C. Bernstein cut shares of Royal Mail (LON:RMG) to a market perform rating in a research note released on Friday, November 29th, ThisIsMoney.Co.Uk reports. The brokerage currently has GBX 225 ($2.96) target price on the stock, down from their previous target price of GBX 250 ($3.29).
RMG has been the topic of several other research reports. Goldman Sachs Group cut their price target on Royal Mail from GBX 310 ($4.08) to GBX 300 ($3.95) and set a buy rating on the stock in a research note on Monday, November 25th. Liberum Capital dropped their price objective on Royal Mail from GBX 185 ($2.43) to GBX 175 ($2.30) and set a sell rating for the company in a report on Wednesday, November 27th. Deutsche Bank reaffirmed a sell rating and issued a GBX 150 ($1.97) target price on shares of Royal Mail in a research note on Friday, November 22nd. Barclays reissued an overweight rating and set a GBX 250 ($3.29) price target on shares of Royal Mail in a research note on Thursday, November 21st. Finally, Royal Bank of Canada cut their price objective on shares of Royal Mail from GBX 315 ($4.14) to GBX 200 ($2.63) and set a sector performer rating on the stock in a report on Wednesday, October 9th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of GBX 211.54 ($2.78).
Shares of Royal Mail stock traded down GBX 3.90 ($0.05) during mid-day trading on Friday, reaching GBX 234.20 ($3.08). 2,970,239 shares of the stock were exchanged, compared to its average volume of 5,850,000. Royal Mail has a fifty-two week low of GBX 186.80 ($2.46) and a fifty-two week high of GBX 308.50 ($4.06). The firm has a 50-day simple moving average of GBX 221.58 and a 200 day simple moving average of GBX 212.80. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 32.69. The company has a market cap of $2.36 billion and a price-to-earnings ratio of 7.25.
The firm also recently announced a dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 5th will be paid a dividend of GBX 7.50 ($0.10) per share. The ex-dividend date is Thursday, December 5th. This represents a yield of 3.78%. Royal Mail’s payout ratio is 0.74%.
In related news, insider Rico Back bought 300,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of GBX 234 ($3.08) per share, for a total transaction of £702,000 ($923,441.20). Insiders have acquired a total of 300,083 shares of company stock worth $70,219,890 over the last 90 days.
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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