Bankrate, Inc. (RATE) Expected to Post Quarterly Sales of $118.26 Million
Equities analysts expect that Bankrate, Inc. (NYSE:RATE) will post $118.26 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Bankrate’s earnings. The highest sales estimate is $118.74 million and the lowest is $117.50 million. Bankrate posted sales of $98.30 million in the same quarter last year, which would indicate a positive year over year growth rate of 20.3%. The company is expected to issue its next quarterly earnings results on Thursday, August 3rd.
On average, analysts expect that Bankrate will report full-year sales of $118.26 million for the current financial year, with estimates ranging from $504.30 million to $508.10 million. For the next year, analysts expect that the business will post sales of $572.76 million per share, with estimates ranging from $568.70 million to $580.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Bankrate.
Bankrate (NYSE:RATE) last announced its earnings results on Thursday, May 4th. The bank reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The business had revenue of $118.70 million during 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 business’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 EPS.
RATE has been the topic of a number of analyst reports. Zacks Investment Research upgraded Bankrate from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. ValuEngine downgraded Bankrate from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded Bankrate from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Sidoti downgraded Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a research note on Monday, July 3rd. Finally, Needham & Company LLC downgraded Bankrate from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Bankrate presently has an average rating of “Hold” and an average target price of $12.31.
In other Bankrate news, CEO Christopher J. Speltz sold 12,300 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $11.95, for a total transaction of $146,985.00. Following the sale, the chief executive officer now directly owns 279,733 shares in the company, valued at $3,342,809.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven Barnhart sold 9,712 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $12.00, for a total value of $116,544.00. Following the sale, the chief financial officer now owns 295,222 shares in the company, valued at $3,542,664. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,947 shares of company stock worth $478,592. 6.30% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in Bankrate by 15.7% in the fourth quarter. State Street Corp now owns 1,127,884 shares of the bank’s stock worth $12,466,000 after buying an additional 153,314 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Bankrate by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,154,149 shares of the bank’s stock worth $34,855,000 after buying an additional 220,853 shares during the last quarter. FMR LLC increased its stake in Bankrate by 3.8% in the fourth quarter. FMR LLC now owns 3,104,353 shares of the bank’s stock worth $34,303,000 after buying an additional 112,861 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Bankrate by 14.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 30,821 shares of the bank’s stock worth $341,000 after buying an additional 3,825 shares during the last quarter. Finally, Norges Bank purchased a new stake in Bankrate during the fourth quarter worth approximately $4,991,000. Institutional investors own 49.16% of the company’s stock.
Shares of Bankrate (RATE) remained flat at $13.85 on Friday. The company had a trading volume of 762,520 shares. The company’s 50 day moving average price is $12.38 and its 200-day moving average price is $11.07. Bankrate has a 12-month low of $6.91 and a 12-month high of $14.25. The company’s market cap is $1.23 billion.
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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