Investec Reiterates “Buy” Rating for Ladbrokes PLC (LAD)
Ladbrokes PLC (LON:LAD)‘s stock had its “buy” rating reissued by equities researchers at Investec in a research report issued on Monday. They presently have a GBX 178 ($2.20) target price on the casino operator’s stock. Investec’s target price points to a potential upside of 27.97% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. Canaccord Genuity reissued a “buy” rating and set a GBX 145 ($1.79) price objective on shares of Ladbrokes PLC in a research note on Friday, July 15th. Liberum Capital reissued a “sell” rating and set a GBX 111 ($1.37) price objective on shares of Ladbrokes PLC in a research note on Thursday, August 4th. Goodbody reissued a “buy” rating on shares of Ladbrokes PLC in a research note on Tuesday, July 26th. Davy Research reissued a “neutral” rating on shares of Ladbrokes PLC in a research note on Thursday, August 4th. Finally, Peel Hunt reissued a “buy” rating and set a GBX 137 ($1.70) price objective on shares of Ladbrokes PLC in a research note on Tuesday, July 26th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Ladbrokes PLC currently has a consensus rating of “Hold” and a consensus target price of GBX 140 ($1.73).
Shares of Ladbrokes PLC (LON:LAD) opened at 137.70 on Monday. Ladbrokes PLC has a 52-week low of GBX 100.20 and a 52-week high of GBX 164.80. The company’s market cap is GBX 1.40 billion. The firm has a 50 day moving average price of GBX 145.86 and a 200-day moving average price of GBX 131.99.
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The company also recently disclosed a dividend, which will be paid on Thursday, November 10th. Shareholders of record on Thursday, September 22nd will be given a dividend of GBX 1 ($0.01) per share. The ex-dividend date is Thursday, September 22nd. This represents a yield of 0.69%.
In other news, insider Kelly OBE,John acquired 19,400 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were acquired at an average cost of GBX 153 ($1.89) per share, with a total value of £29,682 ($36,735.15).
About Ladbrokes PLC
Ladbrokes plc is engaged in the betting and gaming industry. The Company’s segments include UK Retail, European Retail, Digital, Core Telephone Betting and High Rollers. The UK Retail segment consists of betting activities in the shop estate in Great Britain. It is involved in traditional over the counter betting on football, horse and greyhound racing as well as other sports and by machines.
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