Relx (NYSE:RELX) Upgraded to Buy at Citigroup

Relx (NYSE:RELX) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a report released on Wednesday,Finviz reports.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upgraded Relx from a “hold” rating to a “buy” rating in a research report on Tuesday, December 9th. Morgan Stanley restated an “overweight” rating on shares of Relx in a report on Monday, February 2nd. Zacks Research downgraded Relx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Relx in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Relx from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Relx Stock Down 0.8%

NYSE RELX opened at $33.34 on Wednesday. The business’s 50-day moving average price is $32.86 and its 200 day moving average price is $39.19. Relx has a twelve month low of $27.57 and a twelve month high of $56.33. The company has a current ratio of 0.49, a quick ratio of 0.44 and a debt-to-equity ratio of 2.38.

Relx (NYSE:RELX) last released its earnings results on Wednesday, February 11th. The technology company reported $42.81 earnings per share for the quarter, topping the consensus estimate of $0.85 by $41.96. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $6.70 billion. Research analysts expect that Relx will post 1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Relx

Several hedge funds have recently modified their holdings of the stock. Capital International Investors raised its holdings in shares of Relx by 66.7% during the 4th quarter. Capital International Investors now owns 10,662,595 shares of the technology company’s stock valued at $433,887,000 after buying an additional 4,264,474 shares during the period. Morgan Stanley raised its holdings in shares of Relx by 7.0% during the 4th quarter. Morgan Stanley now owns 6,279,696 shares of the technology company’s stock valued at $253,825,000 after buying an additional 408,833 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Relx by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,502,488 shares of the technology company’s stock valued at $141,583,000 after buying an additional 56,363 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Relx by 1.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,390,649 shares of the technology company’s stock valued at $164,120,000 after buying an additional 46,515 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Relx by 3.5% during the 3rd quarter. Northern Trust Corp now owns 2,430,755 shares of the technology company’s stock valued at $116,093,000 after buying an additional 81,195 shares during the period. 15.02% of the stock is currently owned by hedge funds and other institutional investors.

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.