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Royal Mail (RMG) PT Lowered to GBX 285

16 Dec 2018, 14:59

https://xnewspress.com/news/2018/12/15/jpmorgan-chase-co-lowers-royal-mail-rmg-price-target-to-gbx-285.html

Royal Mail (RMG) PT Lowered to GBX 285

Posted by William Tyler on Dec 15th, 2018

Royal Mail (LON:RMG) had its price target cut by JPMorgan Chase & Co. from GBX 341 ($4.46) to GBX 285 ($3.72) in a research report issued on Monday, November 19th. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target would suggest a potential downside of 3.81% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Liberum Capital reissued a “sell” rating on shares of Royal Mail in a research report on Thursday, November 15th. Berenberg Bank decreased their price objective on shares of Royal Mail from GBX 420 ($5.49) to GBX 300 ($3.92) and set a “sell” rating for the company in a research note on Tuesday, October 9th. Barclays decreased their price objective on shares of Royal Mail from GBX 605 ($7.91) to GBX 410 ($5.36) and set an “overweight” rating for the company in a research note on Wednesday, October 10th. HSBC cut shares of Royal Mail to a “hold” rating and decreased their price objective for the company from GBX 552 ($7.21) to GBX 379 ($4.95) in a research note on Tuesday, October 9th. Finally, Royal Bank of Canada cut shares of Royal Mail to an “underperform” rating and decreased their price objective for the company from GBX 500 ($6.53) to GBX 315 ($4.12) in a research note on Tuesday, October 9th. Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of GBX 383.43 ($5.01).

Shares of Royal Mail stock traded down GBX 5.60 ($0.07) on Monday, reaching GBX 296.30 ($3.87). The stock had a trading volume of 6,952,040 shares, compared to its average volume of 5,850,000. Royal Mail has a 1 year low of GBX 367.80 ($4.81) and a 1 year high of GBX 575 ($7.51).

Royal Mail (LON:RMG) last issued its quarterly earnings data on Thursday, November 15th. The company reported GBX 13.60 ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of GBX 16.60 ($0.22) by GBX (3) (($0.04)).

In other news, insider Rico Back bought 112,000 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was purchased at an average cost of GBX 318 ($4.16) per share, for a total transaction of £356,160 ($465,386.12).

About Royal Mail

Royal Mail plc, together with its subsidiaries, operates as a 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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