Banking, finance, and taxes
Bankrate Earnings Will Be Closely Watched By Traders (RATE, MOVE, TSCM)
Published:
Last Updated:
On Tuesday, we’ll get to see earnings out of Bankrate Inc. (NASDAQ:RATE). The estimates from First Call for the internet-based consumer banking company are $0.39 EPS on $26.84 million in revenues. Estimates for fiscal 2008 are $1.96 EPS on $142.76 million in revenues.
Analysts have an average price target north of $56.00, which is right in line with current share prices. If Friday’s closing prices are any indicator and if the earnings were coming out immediately, it appears that options traders would be pricing in a move of up to $4.00 in either direction.
It will be interesting to see if the company even mentions the new competition coming soon from TheStreet.com (NASDAQ: TSCM) as it pursues its new MainStreet.com push in 2008. We still think it was wiser for the company to partner with Move.com (NASDAQ: MOVE) like it did rather than to acquire it, and this will be the first quarter to reflect any of those efforts.
Bankrate’s 52-week trading range is $32.70 to $56.04 and this one has been doing incredibly well considering its market. In fact, Friday was yet another 52-week high.
Jon C. Ogg
February 3, 2008
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
