Zacks: Analysts Expect Bankrate, Inc. (RATE) Will Announce Quarterly Sales of $138.39 Million

Equities research analysts forecast that Bankrate, Inc. (NYSE:RATE) will post $138.39 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Bankrate’s earnings, with estimates ranging from $136.04 million to $141.13 million. Bankrate reported sales of $128.80 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The business is scheduled to issue its next earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Bankrate will report full year sales of $138.39 million for the current year, with estimates ranging from $504.30 million to $508.10 million. For the next year, analysts forecast that the company will post sales of $572.76 million per share, with estimates ranging from $568.70 million to $580.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Bankrate.

Bankrate (NYSE:RATE) last issued its quarterly earnings data on Monday, August 7th. The bank reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $117.60 million. Bankrate had a positive return on equity of 6.50% and a negative net margin of 4.61%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 earnings per share.

Several research firms recently commented on RATE. ValuEngine cut Bankrate from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Needham & Company LLC cut Bankrate from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub raised Bankrate from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Sidoti cut Bankrate from a “buy” rating to a “neutral” rating and set a $14.00 target price for the company. in a research note on Monday, July 3rd. Finally, Zacks Investment Research cut Bankrate from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.71.

In other Bankrate news, CEO Christopher J. Speltz sold 12,300 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $11.95, for a total transaction of $146,985.00. Following the sale, the chief executive officer now owns 279,733 shares in the company, valued at approximately $3,342,809.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven Barnhart sold 9,712 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $12.00, for a total value of $116,544.00. Following the sale, the chief financial officer now owns 295,222 shares in the company, valued at approximately $3,542,664. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,745 shares of company stock valued at $273,021. Company insiders own 6.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Bankrate by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,931,727 shares of the bank’s stock worth $50,522,000 after buying an additional 330,048 shares in the last quarter. Elk Creek Partners LLC raised its position in shares of Bankrate by 7.1% in the first quarter. Elk Creek Partners LLC now owns 1,695,563 shares of the bank’s stock valued at $16,362,000 after buying an additional 111,699 shares during the period. Renaissance Technologies LLC raised its position in shares of Bankrate by 6.9% in the first quarter. Renaissance Technologies LLC now owns 1,403,000 shares of the bank’s stock valued at $13,539,000 after buying an additional 91,042 shares during the period. Oaktop Capital Management II L.P. purchased a new position in shares of Bankrate during the second quarter valued at $14,501,000. Finally, Thrivent Financial For Lutherans raised its position in shares of Bankrate by 905.3% in the second quarter. Thrivent Financial For Lutherans now owns 1,014,059 shares of the bank’s stock valued at $13,031,000 after buying an additional 913,189 shares during the period. 48.85% of the stock is currently owned by institutional investors.

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Shares of Bankrate (NYSE:RATE) opened at 13.85 on Friday. Bankrate has a 52 week low of $7.10 and a 52 week high of $14.25. The stock’s market capitalization is $1.23 billion. The company’s 50 day moving average price is $13.65 and its 200-day moving average price is $11.36.

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.

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