Jefferies Group Comments on Rio Tinto plc’s FY2018 Earnings (RIO)

Rio Tinto plc (NYSE:RIO) – Jefferies Group cut their FY2018 earnings per share (EPS) estimates for shares of Rio Tinto plc in a report issued on Tuesday. Jefferies Group analyst C. Lafemina now expects that the mining company will post earnings per share of $3.97 for the year, down from their previous estimate of $4.03. Jefferies Group has a “Buy” rating on the stock.

Several other brokerages have also issued reports on RIO. Zacks Investment Research raised Rio Tinto plc from a “hold” rating to a “strong-buy” rating and set a $47.00 target price for the company in a research report on Wednesday, April 12th. Citigroup Inc raised Rio Tinto plc from a “neutral” rating to a “buy” rating in a research report on Thursday. BNP Paribas raised Rio Tinto plc from a “neutral” rating to an “outperform” rating in a research report on Thursday. Sanford C. Bernstein reissued an “overweight” rating on shares of Rio Tinto plc in a research report on Saturday, January 14th. Finally, Morgan Stanley reissued a “buy” rating on shares of Rio Tinto plc in a research report on Saturday, January 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $41.86.

Earnings History and Estimates for Rio Tinto plc (NYSE:RIO)

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://sportsperspectives.com/2017/04/21/jefferies-group-comments-on-rio-tinto-plcs-fy2018-earnings-rio.html.

Rio Tinto plc (NYSE:RIO) traded down 0.139% during mid-day trading on Friday, hitting $39.515. The stock had a trading volume of 2,165,072 shares. The stock has a market capitalization of $71.09 billion, a P/E ratio of 15.478 and a beta of 1.19. Rio Tinto plc has a 52 week low of $26.95 and a 52 week high of $47.11. The company’s 50 day moving average is $40.72 and its 200-day moving average is $39.60.

The firm also recently announced a semiannual dividend, which was paid on Thursday, April 6th. Shareholders of record on Friday, February 24th were paid a dividend of $1.2582 per share. This represents a yield of 5.54%. This is an increase from Rio Tinto plc’s previous semiannual dividend of $0.96. The ex-dividend date was Wednesday, February 22nd.

A number of hedge funds have recently modified their holdings of the stock. Boston Advisors LLC increased its stake in shares of Rio Tinto plc by 0.5% in the third quarter. Boston Advisors LLC now owns 8,530 shares of the mining company’s stock valued at $285,000 after buying an additional 40 shares in the last quarter. Howard Capital Management purchased a new position in Rio Tinto plc during the third quarter worth about $209,000. Caz Investments LP purchased a new position in Rio Tinto plc during the third quarter worth about $682,000. Bollard Group LLC increased its position in Rio Tinto plc by 1.4% in the third quarter. Bollard Group LLC now owns 6,986 shares of the mining company’s stock worth $233,000 after buying an additional 97 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Rio Tinto plc during the third quarter worth about $35,543,000. Institutional investors and hedge funds own 6.63% of the company’s stock.

About Rio Tinto plc

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

5 Day Chart for NYSE:RIO

Receive News & Ratings for Rio Tinto plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto plc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply