Bankrate, Inc. (RATE) Rating Lowered to Strong Sell at BidaskClub
Bankrate, Inc. (NYSE:RATE) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday.
Several other research analysts also recently issued reports on RATE. Needham & Company LLC downgraded shares of Bankrate from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Sidoti downgraded shares of Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a research report on Monday, July 3rd. Stephens downgraded shares of Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective on the stock. in a research report on Friday, July 7th. Finally, Zacks Investment Research downgraded shares of Bankrate from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Bankrate presently has a consensus rating of “Hold” and an average target price of $13.33.
Shares of Bankrate (RATE) traded up 0.36% during midday trading on Friday, hitting $13.95. 269,441 shares of the stock traded hands. Bankrate has a 52 week low of $7.10 and a 52 week high of $14.25. The firm’s market capitalization is $1.24 billion. The company’s 50-day moving average is $13.91 and its 200 day moving average is $12.50.
Bankrate (NYSE:RATE) last issued its earnings results on Monday, August 7th. The bank reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $115.90 million during the quarter, compared to the consensus estimate of $117.60 million. Bankrate had a positive return on equity of 6.50% and a negative net margin of 4.61%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 EPS. Analysts anticipate that Bankrate will post $0.70 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paloma Partners Management Co bought a new position in Bankrate in the first quarter worth approximately $129,000. Oppenheimer & Co. Inc. bought a new position in Bankrate in the first quarter worth approximately $156,000. Global X Management Co. LLC raised its position in Bankrate by 279.2% in the second quarter. Global X Management Co. LLC now owns 14,480 shares of the bank’s stock worth $186,000 after acquiring an additional 10,661 shares during the period. Marshall Wace North America L.P. bought a new position in Bankrate in the first quarter worth approximately $220,000. Finally, MARSHALL WACE ASIA Ltd bought a new position in Bankrate in the first quarter worth approximately $220,000. Institutional investors and hedge funds own 47.22% of the company’s stock.
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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