Royal Mail PLC Price Target Cut to GBX 480 (RMG)
Cantor Fitzgerald Europe decreased their price objective on shares of Royal Mail PLC (LON:RMG) from GBX 500 ($8.42) to GBX 480 ($8.08) in a research note issued on Wednesday. The firm currently has a “sell” rating on the stock. Cantor Fitzgerald Europe‘s target price would suggest a potential downside of 9.52% from the company’s current price.
Shares of Royal Mail PLC (LON:RMG) traded down 2.36% during mid-day trading on Wednesday, hitting GBX 518.00. The stock had a trading volume of 615,409 shares. Royal Mail PLC has a 52 week low of GBX 431.00 and a 52 week high of GBX 618.00. The stock’s 50-day moving average is GBX 533.8 and its 200-day moving average is GBX 567.9.
The company also recently announced a dividend, which is scheduled for Thursday, July 31st. Shareholders of record on Wednesday, July 2nd will be paid a dividend of GBX 13.30 ($0.22) per share. This represents a dividend yield of 2.55%. The ex-dividend date is Wednesday, July 2nd.
A number of other firms have also recently commented on RMG. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Royal Mail PLC in a research note on Tuesday. They now have a GBX 765 ($12.88) price target on the stock. Separately, analysts at Berenberg Bank reiterated a “buy” rating on shares of Royal Mail PLC in a research note on Friday, May 23rd. They now have a GBX 700 ($11.78) price target on the stock. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Royal Mail PLC in a research note on Friday, May 23rd. They now have a GBX 925 ($15.57) price target on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Royal Mail PLC currently has an average rating of “Hold” and a consensus target price of GBX 614.46 ($10.34).
Royal Mail plc is a United Kingdom-based holding company. The Company is a provider of postal and delivery services.
To view Cantor Fitzgerald Europe’s full report, visit Cantor Fitzgerald Europe’s official website.
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