Royal Mail PLC (RMG) To Go Ex-Dividend on December 7th
Royal Mail PLC (LON:RMG) declared a dividend on Thursday, November 16th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, December 7th will be paid a dividend of GBX 7.70 ($0.10) per share on Wednesday, January 10th. This represents a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, December 7th. The official announcement can be seen at this link.
Shares of Royal Mail (LON RMG) traded down GBX 17.30 ($0.23) during trading on Friday, hitting GBX 424.60 ($5.69). 7,944,556 shares of the stock were exchanged, compared to its average volume of 4,960,000. Royal Mail has a 52-week low of GBX 367.80 ($4.93) and a 52-week high of GBX 474 ($6.35).
A number of research analysts have recently issued reports on the stock. Deutsche Bank downgraded shares of Royal Mail to a “sell” rating and cut their price objective for the stock from GBX 450 ($6.03) to GBX 359 ($4.81) in a research report on Friday. Berenberg Bank lifted their price objective on shares of Royal Mail from GBX 375 ($5.02) to GBX 415 ($5.56) and gave the stock a “hold” rating in a research report on Friday. Jefferies Group cut their price objective on shares of Royal Mail from GBX 330 ($4.42) to GBX 300 ($4.02) and set an “underperform” rating on the stock in a research report on Friday. Morgan Stanley lifted their price objective on shares of Royal Mail from GBX 385 ($5.16) to GBX 390 ($5.22) and gave the stock an “underweight” rating in a research report on Wednesday, November 22nd. Finally, HSBC reaffirmed a “buy” rating and issued a GBX 465 ($6.23) price objective on shares of Royal Mail in a research report on Monday, November 20th. Five investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Royal Mail presently has an average rating of “Hold” and a consensus target price of GBX 429.45 ($5.75).
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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