Relx (NYSE:RELX) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of Relx (NYSE:RELX) from a strong-buy rating to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the company. Citigroup assumed coverage on Relx in a research note on Monday, January 12th. They set a “neutral” rating for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Relx in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Relx from a “hold” rating to a “buy” rating in a research note on Tuesday, December 9th. Wall Street Zen upgraded shares of Relx from a “hold” rating to a “buy” rating in a research note on Monday, February 23rd. Finally, Morgan Stanley restated an “overweight” rating on shares of Relx in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Relx Price Performance

Shares of RELX stock traded up $0.20 on Wednesday, reaching $35.38. The stock had a trading volume of 738,488 shares, compared to its average volume of 4,359,326. The company has a quick ratio of 0.44, a current ratio of 0.49 and a debt-to-equity ratio of 2.38. The firm’s 50-day moving average is $36.27 and its two-hundred day moving average is $41.44. Relx has a 12 month low of $27.57 and a 12 month high of $56.33.

Relx (NYSE:RELX) last posted its quarterly earnings results on Thursday, February 12th. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.42). The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $6.70 billion. On average, equities research analysts predict that Relx will post 1.68 earnings per share for the current year.

Relx Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Friday, May 8th will be issued a $0.6559 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a yield of 422.0%.

Institutional Investors Weigh In On Relx

A number of hedge funds and other institutional investors have recently made changes to their positions in RELX. Capital International Investors increased its stake in Relx by 66.7% during the 4th quarter. Capital International Investors now owns 10,662,595 shares of the technology company’s stock worth $433,887,000 after acquiring an additional 4,264,474 shares during the period. Orion Porfolio Solutions LLC raised its stake in Relx by 622.0% in the second quarter. Orion Porfolio Solutions LLC now owns 1,350,189 shares of the technology company’s stock valued at $73,369,000 after purchasing an additional 1,163,189 shares in the last quarter. Millennium Management LLC lifted its position in Relx by 251.6% during the fourth quarter. Millennium Management LLC now owns 1,207,191 shares of the technology company’s stock worth $48,795,000 after purchasing an additional 863,856 shares during the period. Voloridge Investment Management LLC acquired a new stake in Relx during the third quarter worth about $39,737,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Relx by 80.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,488,278 shares of the technology company’s stock valued at $60,156,000 after buying an additional 664,888 shares during the period. 15.02% of the stock is currently owned by institutional investors and hedge funds.

Relx Company Profile

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.