Zacks: Brokerages Expect Bankrate, Inc. (RATE) Will Announce Quarterly Sales of $138.39 Million
Wall Street analysts expect Bankrate, Inc. (NYSE:RATE) to announce $138.39 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Bankrate’s earnings, with estimates ranging from $136.04 million to $141.13 million. Bankrate reported sales of $128.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.4%. The firm is expected to report its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Bankrate will report full year sales of $138.39 million for the current financial year, with estimates ranging from $504.30 million to $508.10 million. For the next financial year, analysts anticipate that the firm will post sales of $572.76 million per share, with estimates ranging from $568.70 million to $580.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Bankrate.
Bankrate (NYSE:RATE) last announced its quarterly earnings data on Monday, August 7th. The bank reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). Bankrate had a negative net margin of 4.61% and a positive return on equity of 6.50%. The business had revenue of $115.90 million during the quarter, compared to analysts’ expectations of $117.60 million. During the same period in the prior year, the firm posted $0.01 EPS. Bankrate’s revenue for the quarter was up 17.9% compared to the same quarter last year.
Several research analysts have recently issued reports on RATE shares. BidaskClub cut shares of Bankrate from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 30th. Stephens cut shares of Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective for the company. in a report on Friday, July 7th. Needham & Company LLC cut shares of Bankrate from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Sidoti cut shares of Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a report on Monday, July 3rd. Finally, Zacks Investment Research cut shares of Bankrate from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $13.33.
Shares of Bankrate (NYSE:RATE) opened at 13.90 on Wednesday. The firm’s market capitalization is $1.24 billion. Bankrate has a 52-week low of $7.10 and a 52-week high of $14.25. The stock’s 50 day moving average is $13.91 and its 200-day moving average is $12.60.
A number of hedge funds have recently added to or reduced their stakes in the business. Mizuho Securities USA LLC purchased a new stake in Bankrate in the 3rd quarter worth approximately $1,320,000. Koch Industries Inc. purchased a new stake in Bankrate in the 2nd quarter worth approximately $237,000. The Manufacturers Life Insurance Company lifted its position in Bankrate by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,667 shares of the bank’s stock worth $497,000 after buying an additional 151 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in Bankrate by 120.1% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 238,079 shares of the bank’s stock worth $3,058,000 after buying an additional 129,900 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Bankrate by 966.6% in the 2nd quarter. Royal Bank of Canada now owns 19,529 shares of the bank’s stock worth $251,000 after buying an additional 17,698 shares in the last quarter. Institutional investors own 47.34% 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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