BidaskClub cut shares of Bankrate, Inc. (NYSE:RATE) from a hold rating to a sell rating in a research report sent to investors on Friday, October 6th.
Several other brokerages also recently weighed in on RATE. Stephens downgraded Bankrate from an overweight rating to an equal weight rating and set a $14.00 price target for the company. in a report on Friday, July 7th. Zacks Investment Research cut shares of Bankrate from a hold rating to a sell rating in a research note on Wednesday, July 5th. Sidoti cut shares of Bankrate from a buy rating to a neutral rating and set a $14.00 price objective for the company. in a research note on Monday, July 3rd. Finally, Needham & Company LLC cut shares of Bankrate from a buy rating to a hold rating in a research report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $13.33.
Bankrate (NYSE:RATE) opened at 13.90 on Friday. The stock’s market cap is $1.24 billion. Bankrate has a 12-month low of $7.10 and a 12-month high of $14.25. The company’s 50-day moving average price is $13.91 and its 200-day moving average price is $12.46.
Bankrate (NYSE:RATE) last issued its quarterly earnings results on Monday, August 7th. The bank reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The business had revenue of $115.90 million during the quarter, compared to analyst estimates of $117.60 million. Bankrate had a negative net margin of 4.61% and a positive return on equity of 6.50%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 earnings per share. On average, equities analysts expect that Bankrate will post $0.70 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Paloma Partners Management Co acquired a new stake in shares of Bankrate in the 1st quarter valued at about $129,000. Global X Management Co. LLC raised its stake in shares of Bankrate by 279.2% in the 2nd quarter. Global X Management Co. LLC now owns 14,480 shares of the bank’s stock valued at $186,000 after purchasing an additional 10,661 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Bankrate in the 1st quarter valued at about $156,000. Royal Bank of Canada raised its stake in Bankrate by 966.6% during the second quarter. Royal Bank of Canada now owns 19,529 shares of the bank’s stock worth $251,000 after acquiring an additional 17,698 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in Bankrate during the first quarter worth about $220,000. Institutional investors and hedge funds own 47.22% of the company’s stock.
Bankrate Company Profile
Bankrate, Inc is a publisher, aggregator and distributor of personal finance content on the Internet. The Company provides consumers personal finance editorial content across multiple vertical categories, including mortgages, deposits, credit cards, senior care and other personal finance categories. The Company’s segments include Banking, Credit Cards, Senior Care and Other.
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