Bankrate, Inc. (RATE) Given Average Recommendation of “Hold” by Brokerages
Shares of Bankrate, Inc. (NYSE:RATE) have been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $13.00.
A number of equities analysts have commented on the stock. Stephens lowered shares of Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 price target on the stock. in a research report on Friday, July 7th. Sidoti lowered shares of Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a research report on Monday, July 3rd. BidaskClub lowered shares of Bankrate from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th. Zacks Investment Research lowered shares of Bankrate from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Needham & Company LLC lowered shares of Bankrate from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th.
Shares of Bankrate (NYSE RATE) traded up 0.36% during midday trading on Thursday, hitting $13.95. 1,112,870 shares of the company’s stock traded hands. The firm’s market capitalization is $1.24 billion. The company has a 50 day moving average price of $13.91 and a 200 day moving average price of $12.61. Bankrate has a 1-year low of $7.10 and a 1-year high of $14.25.
Bankrate (NYSE:RATE) last released its quarterly earnings results on Monday, August 7th. The bank reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.01). The firm had revenue of $115.90 million during the quarter, compared to analyst estimates of $117.60 million. Bankrate had a negative net margin of 4.61% and a positive return on equity of 6.50%. Bankrate’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 earnings per share. Equities analysts anticipate that Bankrate will post $0.70 earnings per share for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the business. Paloma Partners Management Co bought a new position in shares of Bankrate in the first quarter worth about $129,000. Global X Management Co. LLC raised its stake in shares of 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 last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Bankrate in the first quarter worth about $156,000. Royal Bank of Canada raised its stake in shares of Bankrate by 966.6% in the second quarter. Royal Bank of Canada now owns 19,529 shares of the bank’s stock worth $251,000 after acquiring an additional 17,698 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Bankrate in the first quarter worth about $220,000. 47.34% of the stock is owned by institutional investors.
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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