Bankrate, Inc. (RATE) Given Consensus Rating of “Hold” by Brokerages
Bankrate, Inc. (NYSE:RATE) has received a consensus recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $13.00.
Several research analysts have recently weighed in on RATE shares. Needham & Company LLC downgraded Bankrate from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub upgraded Bankrate from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research downgraded Bankrate from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Sidoti downgraded Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price target for the company. in a research note on Monday, July 3rd. Finally, Stephens downgraded Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a research note on Friday, July 7th.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Paloma Partners Management Co purchased a new stake in Bankrate during the 1st quarter worth about $129,000. Global X Management Co. LLC lifted its holdings in Bankrate by 279.2% during the 2nd quarter. Global X Management Co. LLC now owns 14,480 shares of the bank’s stock worth $186,000 after purchasing an additional 10,661 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Bankrate during the 1st quarter worth about $156,000. Royal Bank of Canada lifted its holdings in Bankrate by 966.6% during the 2nd quarter. Royal Bank of Canada now owns 19,529 shares of the bank’s stock worth $251,000 after purchasing an additional 17,698 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in Bankrate during the 1st quarter worth about $220,000. 47.24% of the stock is currently owned by institutional investors and hedge funds.
Bankrate (NYSE RATE) remained flat at $13.95 during midday trading on Friday. The company’s stock had a trading volume of 247,932 shares. The company has a 50 day moving average of $13.87 and a 200-day moving average of $11.88. Bankrate has a 52-week low of $7.10 and a 52-week high of $14.25. The firm’s market capitalization is $1.24 billion.
Bankrate (NYSE:RATE) last announced its quarterly earnings data on Monday, August 7th. The bank reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $115.90 million during the quarter, compared to the consensus estimate of $117.60 million. Bankrate had a negative net margin of 4.61% and a positive return on equity of 6.50%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 EPS. Analysts predict that Bankrate will post $0.70 earnings per share for the current fiscal year.
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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