Royal Mail (RMG) Upgraded to Buy by HSBC

HSBC upgraded shares of Royal Mail (LON:RMG) to a buy rating in a research note published on Monday morning. The firm currently has GBX 300 ($3.92) target price on the stock, down from their prior target price of GBX 347 ($4.53).

A number of other equities analysts have also recently issued reports on RMG. Barclays reiterated an overweight rating and issued a GBX 410 ($5.36) price objective on shares of Royal Mail in a report on Tuesday, January 29th. Credit Suisse Group lowered their target price on Royal Mail from GBX 301 ($3.93) to GBX 238 ($3.11) and set an underperform rating for the company in a research note on Wednesday, January 30th. Royal Bank of Canada lowered Royal Mail to an underperform rating and lowered their target price for the company from GBX 500 ($6.53) to GBX 315 ($4.12) in a research note on Tuesday, October 9th. UBS Group reissued a neutral rating and issued a GBX 354 ($4.63) target price on shares of Royal Mail in a research note on Friday, January 25th. Finally, Berenberg Bank lowered their target price on Royal Mail from GBX 420 ($5.49) to GBX 300 ($3.92) and set a sell rating for the company in a research note on Tuesday, October 9th. Eight analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of GBX 343.07 ($4.48).

RMG opened at GBX 280.20 ($3.66) on Monday. Royal Mail has a 12-month low of GBX 367.80 ($4.81) and a 12-month high of GBX 575 ($7.51).

Royal Mail (LON:RMG) last posted its quarterly earnings data on Thursday, November 15th. The company reported GBX 13.60 ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of GBX 16.60 ($0.22) by GBX (3) (($0.04)).

The business also recently announced a dividend, which was paid on Wednesday, January 16th. Stockholders of record on Thursday, December 6th were paid a GBX 8 ($0.10) dividend. This represents a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, December 6th.

In other Royal Mail news, insider Rico Back purchased 150,000 shares of the stock in a transaction on Tuesday, January 29th. The stock was acquired at an average price of GBX 261 ($3.41) per share, with a total value of £391,500 ($511,564.09). Insiders have acquired a total of 412,000 shares of company stock valued at $118,266,000 in the last ninety days.

Royal Mail Company Profile

Royal Mail plc, together with its subsidiaries, operates as an universal postal service provider in the United Kingdom, the United States, and other European countries. It offers parcels and letter delivery services under the Royal Mail and Parcelforce Worldwide brands. The company also provides services for the collection, sorting, and delivery of parcels and letters; and designs and produces stamps and philatelic items, as well as offers media and marketing mail services.

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Analyst Recommendations for Royal Mail (LON:RMG)

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