Bankrate Inc (RATE) Expected to Announce Earnings of $0.11 Per Share

Bankrate Inc (RATE) Expected to Announce Earnings of $0.11 Per Share

According to Zacks, analysts expect that Bankrate will report full-year earnings of $0.52 per share for the current fiscal year, with EPS estimates ranging from $0.51 to $0.53. For the next fiscal year, analysts forecast that the business will report earnings of $0.64 per share, with EPS estimates ranging from $0.64 to $0.65. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Bankrate.

Brokerages expect Bankrate Inc (NYSE:RATE) to report $0.11 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Bankrate’s earnings, with the highest EPS estimate coming in at $0.12 and the lowest estimate coming in at $0.09. Bankrate reported earnings of $0.08 per share during the same quarter last year, which indicates a positive year over year growth rate of 37.5%. The business is scheduled to report its next quarterly earnings report on Thursday, August 3rd.

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, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $118.70 million during the quarter, compared to analyst estimates of $116.18 million. Bankrate had a positive return on equity of 8.98% and a negative net margin of 6.09%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS.

Several analysts recently issued reports on the stock. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $13.00 price target (down previously from $14.00) on shares of Bankrate in a research report on Monday, March 13th. CIBC assumed coverage on shares of Bankrate in a research report on Wednesday, February 8th. They set an “outperform” rating and a $14.00 price target on the stock. Zacks Investment Research lowered shares of Bankrate from a “hold” rating to a “sell” rating in a research report on Wednesday, March 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Bankrate in a research report on Saturday, March 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $11.36.

In related news, CFO Steven Barnhart sold 12,142 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $10.13, for a total value of $122,998.46. Following the completion of the transaction, the chief financial officer now owns 241,490 shares of the company’s stock, valued at approximately $2,446,293.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher J. Speltz sold 12,500 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $10.95, for a total transaction of $136,875.00. Following the completion of the transaction, the chief executive officer now directly owns 292,233 shares of the company’s stock, valued at approximately $3,199,951.35. The disclosure for this sale can be found here. Insiders have sold a total of 36,344 shares of company stock worth $380,319 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Weiss Asset Management LP bought a new position in shares of Bankrate during the third quarter valued at approximately $208,000. SECOR Capital Advisors LP increased its position in shares of Bankrate by 18.7% in the third quarter. SECOR Capital Advisors LP now owns 393,380 shares of the bank’s stock valued at $3,336,000 after buying an additional 62,002 shares during the last quarter. Analytic Investors LLC increased its position in shares of Bankrate by 162.8% in the third quarter. Analytic Investors LLC now owns 62,979 shares of the bank’s stock valued at $534,000 after buying an additional 39,016 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Bankrate by 192.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 474,200 shares of the bank’s stock valued at $4,021,000 after buying an additional 311,850 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Bankrate during the fourth quarter valued at approximately $2,104,000. 46.65% of the stock is owned by institutional investors and hedge funds.

Bankrate (RATE) opened at 10.45 on Thursday. The company’s market capitalization is $925.98 million. The firm’s 50-day moving average price is $10.44 and its 200-day moving average price is $10.64. Bankrate has a 52 week low of $6.91 and a 52 week high of $11.95.

About Bankrate

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RATE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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