Ladbrokes PLC Stock Rating Reaffirmed by Panmure Gordon (LAD)
Ladbrokes PLC (LON:LAD)‘s stock had its “sell” rating reaffirmed by research analysts at Panmure Gordon in a report released on Tuesday, American Banking News.com reports. They currently have a GBX 135 ($2.25) price objective on the stock. Panmure Gordon’s price objective indicates a potential downside of 12.90% from the stock’s previous close.
Shares of Ladbrokes PLC (LON:LAD) traded up 2.65% during mid-day trading on Tuesday, hitting GBX 155.00. The stock had a trading volume of 16,256,488 shares. Ladbrokes PLC has a 52-week low of GBX 144.20 and a 52-week high of GBX 245.00. The stock’s 50-day moving average is GBX 156.7 and its 200-day moving average is GBX 176.7. The company’s market cap is £1.419 billion.
The company also recently announced a dividend, which is scheduled for Thursday, May 15th. Shareholders of record on Wednesday, March 26th will be paid a dividend of GBX 4.60 ($0.08) per share. This represents a dividend yield of 2.97%. The ex-dividend date is Wednesday, March 26th.
A number of other firms have also recently commented on LAD. Analysts at Numis Securities Ltd reiterated a “hold” rating on shares of Ladbrokes PLC in a research note on Tuesday. They now have a GBX 150 ($2.49) price target on the stock. Separately, analysts at Nomura reiterated a “reduce” rating on shares of Ladbrokes PLC in a research note on Monday. Finally, analysts at Deutsche Bank cut their price target on shares of Ladbrokes PLC from GBX 196 ($3.26) to GBX 177 ($2.94) in a research note on Monday. They now have a “buy” rating on the stock. Seven analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Ladbrokes PLC presently has an average rating of “Hold” and an average target price of GBX 161.86 ($2.69).
Ladbrokes plc is engaged in betting and gaming. The Company operates in five segments: UK Retail, European Retail, Digital, Core Telephone Betting and High Rollers.
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