Royal Mail PLC Coverage Initiated at Jefferies Group (RMG)
Jefferies Group assumed coverage on shares of Royal Mail PLC (LON:RMG) in a research note issued on Wednesday. The firm set an “underperform” rating and a GBX 420 ($7.13) price target on the stock. Jefferies Group’s target price would suggest a potential downside of 12.21% from the stock’s previous close.
A number of other analysts have also recently weighed in on RMG. Analysts at Credit Suisse reiterated an “underperform” rating on shares of Royal Mail PLC in a research note on Wednesday, June 4th. They now have a GBX 460 ($7.81) price target on the stock. Separately, analysts at Cantor Fitzgerald Europe cut their price target on shares of Royal Mail PLC from GBX 500 ($8.49) to GBX 480 ($8.15) in a research note on Wednesday, May 28th. They now have a “sell” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Royal Mail PLC in a research note on Tuesday, May 27th. They now have a GBX 765 ($12.99) price target on the stock. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of GBX 600.57 ($10.19).
Royal Mail PLC (LON:RMG) traded up 0.61% on Wednesday, hitting GBX 481.3149. The stock had a trading volume of 4,055,106 shares. Royal Mail PLC has a 1-year low of GBX 431.00 and a 1-year high of GBX 618.00. The stock’s 50-day moving average is GBX 529.9 and its 200-day moving average is GBX 563.0. The company’s market cap is £4.813 billion.
The company also recently announced a dividend, which is scheduled for Thursday, July 31st. Stockholders of record on Wednesday, July 2nd will be paid a dividend of GBX 13.30 ($0.23) per share. This represents a dividend yield of 2.55%. The ex-dividend date is Wednesday, July 2nd.
Royal Mail plc is a United Kingdom-based holding company. The Company is a provider of postal and delivery services.
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