RRSat Global Communications Network Ltd Upgraded to Outperform by Oppenheimer (RRST)
RRSat Global Communications Network Ltd (NASDAQ:RRST) was upgraded by research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a report released on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $10.00 target price on the stock. Oppenheimer’s price target suggests a potential upside of 24.07% from the stock’s previous close.
The analysts wrote, “We upgrade RRST to Outperform from Perform as we believe management’s vision of becoming a growth company is starting to be realized. With last year’s acquisitions, SM2 Sports and Media Solutions (to enter live media distribution), and this week’s acquisition of JCA (European content management), the company has expanded into new segments that are higher margin yet complimentary to its core business of distribution. Additionally, it broadens RRST’s footprint to become a truly worldwide company. We introduce a $10 price target based on 1.1x EV/sales which is within its historical range (0.4-2x) and an expanding multiple is warranted, in our view, given likely growth acceleration and margin expansion.”
RRSat Global Communications Network Ltd (NASDAQ:RRST) traded up 4.35% during mid-day trading on Thursday, hitting $8.4104. The stock had a trading volume of 4,253 shares. RRSat Global Communications Network Ltd has a 52 week low of $5.06 and a 52 week high of $9.35. The stock’s 50-day moving average is $7.94 and its 200-day moving average is $8.08. The company has a market cap of $145.9 million and a price-to-earnings ratio of 17.19.
RRSat Global Communications Network Ltd (NASDAQ:RRST) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $29.50 million for the quarter, compared to the consensus estimate of $29.55 million. Analysts expect that RRSat Global Communications Network Ltd will post $0.47 EPS for the current fiscal year.
The company also recently declared a semiannual dividend, which is scheduled for Wednesday, September 11th. Shareholders of record on Wednesday, August 21st will be given a dividend of $0.10 per share. This represents a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 19th.
RRsat Global Communications Network Ltd. provides global, content management and distribution services to the television and radio broadcasting industries.
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