Relx (LON:REL) Reaches New 1-Year Low on Analyst Downgrade
Relx PLC (LON:REL) hit a new 52-week low on Tuesday after Barclays lowered their price target on the stock from GBX 2,275 to GBX 1,860. Barclays currently has an overweight rating on the stock. Relx traded as low as GBX 1,506.50 ($19.82) and last traded at GBX 1,522.50 ($20.03), with a volume of 277973 shares. The stock had previously closed at GBX 1,482.50 ($19.50).
Several other brokerages also recently weighed in on REL. Deutsche Bank reaffirmed a “hold” rating on shares of Relx in a report on Friday, February 14th. UBS Group raised Relx to a “neutral” rating and increased their price target for the stock from GBX 1,825 ($24.01) to GBX 1,900 ($24.99) in a report on Thursday, March 5th. HSBC reaffirmed a “buy” rating on shares of Relx in a report on Monday, January 13th. Goldman Sachs Group decreased their price target on Relx from GBX 2,302.81 ($30.29) to GBX 2,185 ($28.74) and set a “buy” rating for the company in a report on Tuesday, March 17th. Finally, Credit Suisse Group decreased their price target on Relx from GBX 2,225 ($29.27) to GBX 2,148 ($28.26) and set an “outperform” rating for the company in a report on Thursday, March 12th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of GBX 2,005.80 ($26.39).
In other Relx news, insider Erik Engstrom sold 32,368 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of GBX 2,073 ($27.27), for a total value of £670,988.64 ($882,647.51).
The company also recently declared a dividend, which will be paid on Thursday, May 28th. Stockholders of record on Friday, April 24th will be given a GBX 32.10 ($0.42) dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a dividend yield of 1.55%. This is a boost from Relx’s previous dividend of $13.60. Relx’s dividend payout ratio (DPR) is currently 0.60%.
Relx Company Profile (LON:REL)
RELX PLC provides information based-analytics and decision tools for professional and business customers in the United States and internationally. It operates through four segments: Scientific, Technical & Medical; Risk & Business Analytics; and Exhibitions. The Scientific, Technical & Medical segment provides information and analytics to institutions and professionals that enables progress in science, advance healthcare, and performance improvement.
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