Royal Bank Of Canada Issues Pessimistic Forecast for SelectQuote (NYSE:SLQT) Stock Price

Key Points

• Royal Bank of Canada has reduced its price target for SelectQuote (NYSE:SLQT) from $7.00 to $6.00, while maintaining a "sector perform" rating, indicating potential upside of 243.84% from the stock's last close.
• Several research firms have downgraded SelectQuote's rating, with Wall Street Zen shifting from a "buy" to a "hold" and Jefferies Financial Group providing a price target of $2.75.
• SelectQuote's shares traded at $1.75 recently, with a 52-week low of $1.62, and the company reported earnings of $0.03 per share, falling short of analyst expectations.

SelectQuote (NYSE:SLQT - Get Free Report) had its price target decreased by research analysts at Royal Bank Of Canada from $7.00 to $6.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 243.84% from the company's previous close.

A number of other equities research analysts have also issued reports on the company. Wall Street Zen lowered SelectQuote from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Jefferies Financial Group began coverage on SelectQuote in a research report on Wednesday, May 21st. They issued a "hold" rating and a $2.75 price objective for the company. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.42.

SelectQuote Price Performance

Shares of SelectQuote stock traded down $0.02 during mid-day trading on Tuesday, reaching $1.75. 158,546 shares of the stock traded hands, compared to its average volume of 1,533,570. The business has a 50-day moving average of $2.21 and a 200 day moving average of $3.16. SelectQuote has a fifty-two week low of $1.62 and a fifty-two week high of $6.86. The stock has a market capitalization of $301.40 million, a PE ratio of -15.86 and a beta of 1.22. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 1.04.

SelectQuote (NYSE:SLQT - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). SelectQuote had a net margin of 0.25% and a return on equity of 1.17%. The firm had revenue of $408.16 million for the quarter, compared to analyst estimates of $412.83 million. On average, analysts predict that SelectQuote will post -0.07 EPS for the current year.

Institutional Trading of SelectQuote

Several hedge funds have recently modified their holdings of SLQT. Vanguard Group Inc. raised its stake in SelectQuote by 7.0% in the first quarter. Vanguard Group Inc. now owns 7,880,173 shares of the company's stock valued at $26,320,000 after buying an additional 516,752 shares in the last quarter. Captrust Financial Advisors increased its position in shares of SelectQuote by 5.0% during the fourth quarter. Captrust Financial Advisors now owns 1,542,010 shares of the company's stock worth $5,736,000 after purchasing an additional 73,627 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SelectQuote by 62.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,251,828 shares of the company's stock worth $4,181,000 after purchasing an additional 478,997 shares in the last quarter. Northern Trust Corp increased its position in shares of SelectQuote by 1.1% during the fourth quarter. Northern Trust Corp now owns 1,134,198 shares of the company's stock worth $4,219,000 after purchasing an additional 11,957 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of SelectQuote by 35.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,055,860 shares of the company's stock worth $3,929,000 after purchasing an additional 275,593 shares in the last quarter. 34.59% of the stock is currently owned by institutional investors and hedge funds.

SelectQuote Company Profile

SelectQuote, Inc operates a technology-enabled, direct-to-consumer distribution platform that sells a range of insurance products and healthcare services in the United States. The company operates through three segments: Senior; Life; and Auto & Home. It distributes senior health policies, such as medicare advantage, medicare supplement, medicare part D, and other ancillary senior health insurance related products, including prescription drugs, dental, vision, and hearing plans; life insurance products, such as term life, final expense, and other ancillary products, including critical illness, accidental death, and juvenile insurance; homeowners, auto, dwelling fire, and other ancillary insurance products; and non-commercial auto and home property, and casualty policies.

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