Lender Processing Services Lowered to “Neutral” at BTIG Research (LPS)
Lender Processing Services (NYSE: LPS) was downgraded by research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report released on Monday, Analyst Ratings Network reports. They currently have a $31.00 price objective on the stock. BTIG Research’s price target suggests a potential downside of 2.27% from the company’s current price.
The analysts wrote, “LPS on May 28 announced it had agreed to be acquired by Fidelity National Financial (FNF) for $33.25 in stock and cash. Under the terms of the agreement, FNF would acquire all the outstanding stock of LPS for $33.25 per common share for a total equity value of $2.9bn. We had argued in our initiation report on Mar. 26 that LPS’s attractiveness as a buyout target merited a fuller valuation and that a buyout would be feasible in spite of the company’s legal issues…We emphasize that our downgrade does not reflect any view on whether the FNF-LPS deal will be consummated, but rather represents a bit of housekeeping after our thesis was borne out and our price target achieved.”
Several other analysts have also recently commented on the stock. Analysts at UBS AG upgraded shares of Lender Processing Services from an “underperform” rating to an “outperform” rating in a research note to investors on Tuesday, June 18th. Separately, analysts at Ladenburg Thalmann upgraded shares of Lender Processing Services from a “sell” rating to a “buy” rating in a research note to investors on Tuesday, June 18th. Finally, analysts at TheStreet upgraded shares of Lender Processing Services from a “hold” rating to a “buy” rating in a research note to investors on Monday, May 6th.
Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $30.25.
Shares of Lender Processing Services (NYSE: LPS) traded down 1.54% during mid-day trading on Monday, hitting $31.23. Lender Processing Services has a 52 week low of $21.23 and a 52 week high of $34.14. The stock’s 50-day moving average is currently $31.11. The company has a market cap of $2.653 billion and a P/E ratio of 35.44.
Lender Processing Services (NYSE: LPS) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.65 by $0.01. The company had revenue of $471.66 million for the quarter, compared to the consensus estimate of $471.28 million. During the same quarter last year, the company posted $0.59 earnings per share. Lender Processing Services’s revenue was down 2.9% compared to the same quarter last year. Lender Processing Services has set its Q2 guidance at $0.63-0.67 EPS. Analysts expect that Lender Processing Services will post $2.60 EPS for the current fiscal year.
Lender Processing Services, Inc (NYSE: LPS) is a provider of integrated technology and services to the mortgage lending industry, with mortgage processing and management services in the United States.
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