$0.11 Earnings Per Share Expected for Bankrate Inc (RATE) This Quarter
Wall Street analysts expect Bankrate Inc (NYSE:RATE) to announce earnings per share (EPS) of $0.11 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Bankrate’s earnings. Bankrate posted earnings of $0.08 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 37.5%. The business is scheduled to announce its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Bankrate will report full year earnings of $0.52 per share for the current year, with EPS estimates ranging from $0.48 to $0.57. For the next fiscal year, analysts expect that the company will post earnings of $0.67 per share, with EPS estimates ranging from $0.64 to $0.69. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Bankrate.
Bankrate (NYSE:RATE) last issued its earnings results on Thursday, May 4th. The bank reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company earned $118.70 million during the quarter, compared to analyst estimates of $116.18 million. Bankrate had a negative net margin of 6.09% and a positive return on equity of 8.98%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS.
Several brokerages have recently issued reports on RATE. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $13.00 price objective (down previously from $14.00) on shares of Bankrate in a research report on Monday, March 13th. CIBC began coverage on shares of Bankrate in a research report on Wednesday, February 8th. They set an “outperform” rating and a $14.00 price objective for the company. Zacks Investment Research downgraded shares of Bankrate from a “hold” rating to a “sell” rating in a research report on Wednesday, March 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Bankrate in a research report on Saturday, March 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Bankrate has an average rating of “Buy” and an average target price of $11.36.
Shares of Bankrate (NYSE:RATE) traded up 5.69% during midday trading on Friday, hitting $11.15. 1,006,656 shares of the company’s stock were exchanged. The company has a 50-day moving average of $9.97 and a 200-day moving average of $10.29. The firm’s market cap is $992.73 million. Bankrate has a 52 week low of $6.91 and a 52 week high of $11.95.
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In related news, SVP James Gilmartin sold 5,000 shares of the stock in a transaction on Monday, March 13th. The shares were sold at an average price of $10.35, for a total transaction of $51,750.00. Following the completion of the transaction, the senior vice president now owns 92,170 shares in the company, valued at $953,959.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Barnhart sold 12,142 shares of the stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $10.13, for a total transaction of $122,998.46. Following the transaction, the chief financial officer now owns 241,490 shares of the company’s stock, valued at approximately $2,446,293.70. The disclosure for this sale can be found here. Insiders have sold 36,344 shares of company stock valued at $380,319 in the last 90 days. 6.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in shares of Bankrate by 1.0% in the third quarter. Wells Fargo & Company MN now owns 16,676 shares of the bank’s stock valued at $141,000 after buying an additional 168 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in shares of Bankrate during the first quarter valued at approximately $181,000. Wedge Capital Management L L P NC boosted its position in shares of Bankrate by 1.6% in the first quarter. Wedge Capital Management L L P NC now owns 18,840 shares of the bank’s stock valued at $182,000 after buying an additional 300 shares during the last quarter. Ellington Management Group LLC acquired a new position in shares of Bankrate during the fourth quarter valued at approximately $204,000. Finally, Weiss Asset Management LP acquired a new position in shares of Bankrate during the third quarter valued at approximately $208,000. Institutional investors and hedge funds own 46.65% of the company’s stock.
Bankrate Company Profile
Bankrate, Inc is a publisher, aggregator and distributor of personal finance content on the Internet. The Company provides consumers personal finance editorial content across multiple vertical categories, including mortgages, deposits, credit cards, senior care and other personal finance categories. The Company’s segments include Banking, Credit Cards, Senior Care and Other.
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