Rentokil Initial PLC (NYSE:RTO – Get Free Report)’s share price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $29.43, but opened at $24.20. Rentokil Initial shares last traded at $24.05, with a volume of 689,039 shares traded.
The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.32).
Analyst Ratings Changes
Several analysts have recently commented on RTO shares. Weiss Ratings reissued a “hold (c)” rating on shares of Rentokil Initial in a research note on Wednesday, June 24th. Zacks Research cut shares of Rentokil Initial from a “hold” rating to a “strong sell” rating in a research report on Monday, June 15th. The Goldman Sachs Group raised Rentokil Initial from a “neutral” rating to a “buy” rating in a report on Monday, July 6th. Finally, Wall Street Zen cut Rentokil Initial from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.
Institutional Investors Weigh In On Rentokil Initial
Several institutional investors have recently modified their holdings of RTO. Jane Street Group LLC lifted its holdings in Rentokil Initial by 292.0% in the first quarter. Jane Street Group LLC now owns 117,341 shares of the company’s stock valued at $2,687,000 after buying an additional 87,405 shares during the period. Creative Planning acquired a new position in shares of Rentokil Initial in the 2nd quarter valued at $393,000. JPMorgan Chase & Co. boosted its position in shares of Rentokil Initial by 2,549.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 93,165 shares of the company’s stock worth $2,236,000 after purchasing an additional 89,649 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Rentokil Initial by 40.0% during the second quarter. Russell Investments Group Ltd. now owns 4,582 shares of the company’s stock worth $110,000 after purchasing an additional 1,309 shares during the period. Finally, M&T Bank Corp lifted its stake in Rentokil Initial by 19.7% in the second quarter. M&T Bank Corp now owns 10,557 shares of the company’s stock valued at $253,000 after buying an additional 1,736 shares during the period. Institutional investors and hedge funds own 9.91% of the company’s stock.
Rentokil Initial Trading Down 18.6%
The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $29.76 and a 200-day simple moving average of $31.32.
About Rentokil Initial
Rentokil Initial PLC is a global business services company specializing in pest control, hygiene and workwear services. Headquartered in Crawley, West Sussex, United Kingdom, the company delivers outsourced solutions designed to protect people, preserve assets and enhance workplaces for both commercial and residential customers.
Under the Rentokil Pest Control brand, the company offers services ranging from routine inspections and treatment of insects, rodents and birds to specialised programmes for food manufacturing and healthcare environments.
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