Analysts Anticipate Bankrate, Inc. (RATE) to Post $0.11 Earnings Per Share
Brokerages predict that Bankrate, Inc. (NYSE:RATE) will report $0.11 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Bankrate’s earnings. The highest EPS estimate is $0.12 and the lowest is $0.09. Bankrate reported earnings per share of $0.08 during the same quarter last year, which would indicate a positive year over year growth rate of 37.5%. The firm is scheduled to issue its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that Bankrate will report full year earnings of $0.52 per share for the current year, with EPS estimates ranging from $0.51 to $0.53. For the next fiscal year, analysts anticipate that the company will post earnings of $0.64 per share, with EPS estimates ranging from $0.64 to $0.65. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Bankrate.
Bankrate (NYSE:RATE) last posted its quarterly earnings data on Thursday, May 4th. The bank reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. The company had revenue of $118.70 million for the quarter, compared to the consensus estimate of $116.18 million. Bankrate had a positive return on equity of 6.66% and a negative net margin of 8.64%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 EPS.
Several research firms have issued reports on RATE. Stephens downgraded Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective on the stock. in a report on Friday, July 7th. Zacks Investment Research downgraded Bankrate from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Needham & Company LLC downgraded Bankrate from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Sidoti downgraded Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a report on Monday, July 3rd. Finally, BidaskClub raised Bankrate from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Bankrate has an average rating of “Hold” and a consensus target price of $12.31.
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Bankrate (NYSE:RATE) opened at 13.85 on Friday. The company has a 50 day moving average price of $12.38 and a 200-day moving average price of $11.07. The firm’s market capitalization is $1.23 billion. Bankrate has a one year low of $6.91 and a one year high of $14.25.
In related news, CFO Steven Barnhart sold 9,712 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $12.00, for a total transaction of $116,544.00. Following the sale, the chief financial officer now owns 295,222 shares of the company’s stock, valued at approximately $3,542,664. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher J. Speltz sold 12,500 shares of the firm’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $10.95, for a total value of $136,875.00. Following the sale, the chief executive officer now directly owns 292,233 shares in the company, valued at approximately $3,199,951.35. The disclosure for this sale can be found here. In the last three months, insiders sold 41,947 shares of company stock worth $478,592. 6.30% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Paloma Partners Management Co acquired a new stake in shares of Bankrate during the first quarter valued at approximately $129,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Bankrate during the first quarter valued at approximately $156,000. Eqis Capital Management Inc. acquired a new stake in shares of Bankrate during the first quarter valued at approximately $181,000. Wedge Capital Management L L P NC increased its stake 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. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of Bankrate during the first quarter valued at approximately $220,000. 49.16% of the stock is currently owned by institutional investors and hedge funds.
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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