Jefferies Group restated their underperform rating on shares of Royal Mail (LON:RMG) in a research report sent to investors on Thursday morning. The firm currently has a GBX 300 ($4.04) target price on the stock.
A number of other brokerages have also recently commented on RMG. Credit Suisse Group cut Royal Mail to an underperform rating and dropped their price target for the company from GBX 492 ($6.62) to GBX 325 ($4.37) in a research note on Tuesday, October 31st. Liberum Capital reiterated a sell rating and issued a GBX 385 ($5.18) price target on shares of Royal Mail in a research note on Thursday, October 26th. HSBC reiterated a buy rating and issued a GBX 465 ($6.26) price target on shares of Royal Mail in a research note on Monday, November 20th. Royal Bank Of Canada reiterated a sector performer rating and issued a GBX 445 ($5.99) price target on shares of Royal Mail in a research note on Tuesday. Finally, J P Morgan Chase & Co reiterated an overweight rating and issued a GBX 535 ($7.20) price target on shares of Royal Mail in a research note on Friday, November 17th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Royal Mail has a consensus rating of Hold and an average target price of GBX 429.50 ($5.78).
Royal Mail (LON:RMG) traded up GBX 10.32 ($0.14) during midday trading on Thursday, reaching GBX 438.40 ($5.90). The company’s stock had a trading volume of 7,896,297 shares, compared to its average volume of 5,810,000. Royal Mail has a 12-month low of GBX 367.80 ($4.95) and a 12-month high of GBX 470.50 ($6.33).
The business also recently disclosed a dividend, which will be paid on Wednesday, January 10th. Investors of record on Thursday, December 7th will be issued a GBX 7.70 ($0.10) dividend. The ex-dividend date is Thursday, December 7th. This represents a yield of 1.86%.
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About Royal Mail
Royal Mail plc provides postal services. The Company’s segments include UK Parcels, International & Letters (UKPIL), General Logistics Systems (GLS) and Other. UKPIL operates in the United Kingdom collecting and delivering parcels and letters through approximately two main networks, the Royal Mail Core Network and Parcelforce Worldwide.
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