Bankrate, Inc. (NYSE:RATE) Expected to Announce Quarterly Sales of $118.26 Million
Brokerages expect Bankrate, Inc. (NYSE:RATE) to announce $118.26 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Bankrate’s earnings, with the highest sales estimate coming in at $118.74 million and the lowest estimate coming in at $117.50 million. Bankrate reported sales of $98.30 million in the same quarter last year, which indicates a positive year over year growth rate of 20.3%. The company is expected to issue its next earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Bankrate will report full year sales of $118.26 million for the current financial year, with estimates ranging from $504.30 million to $508.10 million. For the next year, analysts forecast that the business will report sales of $572.76 million per share, with estimates ranging from $568.70 million to $580.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Bankrate.
Bankrate (NYSE:RATE) last issued its quarterly earnings results on Thursday, May 4th. The bank reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The company had revenue of $118.70 million during the quarter, compared to analyst estimates of $116.18 million. Bankrate had a negative net margin of 8.64% and a positive return on equity of 6.66%. Bankrate’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS.
A number of analysts recently weighed in on RATE shares. Zacks Investment Research raised shares of Bankrate from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. BidaskClub raised shares of Bankrate from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Stephens lowered shares of Bankrate from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective for the company. in a research note on Friday, July 7th. Sidoti downgraded shares of Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 target price for the company. in a report on Monday, July 3rd. Finally, Needham & Company LLC downgraded shares of Bankrate from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $12.31.
Shares of Bankrate (NYSE:RATE) remained flat at $13.85 on Friday. The stock had a trading volume of 762,520 shares. The firm’s market capitalization is $1.23 billion. Bankrate has a one year low of $6.91 and a one year high of $14.25. The firm’s 50-day moving average price is $12.38 and its 200-day moving average price is $11.07.
In other news, CEO Christopher J. Speltz sold 12,300 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $11.95, for a total transaction of $146,985.00. Following the transaction, the chief executive officer now owns 279,733 shares in the company, valued at $3,342,809.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Barnhart sold 6,702 shares of the company’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $10.25, for a total transaction of $68,695.50. Following the transaction, the chief financial officer now owns 311,336 shares in the company, valued at approximately $3,191,194. The disclosure for this sale can be found here. Insiders sold 41,947 shares of company stock valued at $478,592 over the last quarter. 6.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. Paloma Partners Management Co bought a new position in Bankrate during the first quarter valued at about $129,000. Oppenheimer & Co. Inc. bought a new position in Bankrate during the first quarter valued at about $156,000. Eqis Capital Management Inc. bought a new position in Bankrate during the first quarter valued at about $181,000. Wedge Capital Management L L P NC increased its position in Bankrate by 1.6% in the first quarter. Wedge Capital Management L L P NC now owns 18,840 shares of the bank’s stock valued at $182,000 after buying an additional 300 shares during the period. Finally, MARSHALL WACE ASIA Ltd bought a new position in Bankrate during the first quarter valued at about $220,000. Hedge funds and other institutional investors own 49.16% of the company’s stock.
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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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