Relx (NYSE:RELX) Issues Earnings Results, Beats Estimates By $44.55 EPS

Relx (NYSE:RELXGet Free Report) posted its quarterly earnings data on Wednesday. The technology company reported $45.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $44.55, FiscalAI reports. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $6.54 billion.

Relx Stock Up 4.2%

RELX stock traded up $1.37 during mid-day trading on Friday, reaching $34.23. The company’s stock had a trading volume of 875,003 shares, compared to its average volume of 3,358,747. Relx has a 12 month low of $27.57 and a 12 month high of $53.29. The company has a current ratio of 0.49, a quick ratio of 0.44 and a debt-to-equity ratio of 2.38. The business’s 50 day moving average price is $32.82 and its 200 day moving average price is $34.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RELX. Transamerica Financial Advisors LLC raised its holdings in Relx by 3,040.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 785 shares of the technology company’s stock worth $32,000 after buying an additional 760 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Relx in the 3rd quarter worth about $72,000. Horizon Investments LLC increased its stake in Relx by 23.0% in the 3rd quarter. Horizon Investments LLC now owns 1,517 shares of the technology company’s stock valued at $72,000 after buying an additional 284 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Relx by 66.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,410 shares of the technology company’s stock valued at $97,000 after acquiring an additional 962 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Relx in the 4th quarter valued at $114,000. Institutional investors own 15.02% of the company’s stock.

More Relx News

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Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Relx from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Citigroup raised Relx from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 8th. Morgan Stanley cut Relx from an “overweight” rating to an “equal weight” rating in a research report on Thursday, May 7th. Weiss Ratings raised shares of Relx from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 6th. Finally, The Goldman Sachs Group began coverage on shares of Relx in a research note on Wednesday, June 3rd. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

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About Relx

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RELX plc is a global provider of information, analytics and decision tools for professional and business customers. The company supplies content, data and analytical services that support decision-making across scientific, technical and medical research, legal and regulatory practice, and risk and business analytics. RELX’s offerings are largely delivered via digital platforms and subscription services designed for institutions, corporations and professionals who require specialized, high-value information and workflow solutions.

RELX operates through distinct business lines that include Elsevier, which provides scientific, technical and medical journals, books and online platforms such as research and discovery tools; Legal and Professional services, which deliver legal, regulatory and compliance content and workflow solutions; Risk & Business Analytics, which offers data, analytics and decision tools for insurance, banking, corporate and government risk assessment; and Exhibitions, which organizes industry trade shows and events.

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