Today: Today, Scotiabank Reaffirms “Sector Outperform” Rating for Rice Energy Inc. (RICE)

Today, Scotiabank Reaffirms “Sector Outperform” Rating for Rice Energy Inc. (RICE)

Scotiabank restated their sector outperform rating on shares of Rice Energy Inc. (NYSE:RICE) in a research report released on Wednesday morning. The firm currently has a $32.00 price objective on the stock, up from their previous price objective of $30.00.

Several other research firms have also commented on RICE. Zacks Investment Research lowered shares of Rice Energy from a buy rating to a hold rating in a report on Friday, July 29th. Deutsche Bank AG boosted their price objective on shares of Rice Energy from $19.00 to $21.00 and gave the stock a hold rating in a research note on Tuesday, June 14th. Barclays PLC boosted their price objective on shares of Rice Energy from $16.00 to $19.00 and gave the stock an equal weight rating in a research note on Thursday, July 14th. RBC Capital Markets reissued a buy rating and set a $30.00 target price (up previously from $29.00) on shares of Rice Energy in a research report on Monday, October 3rd. Finally, Johnson Rice reissued a hold rating on shares of Rice Energy in a research report on Wednesday, September 28th. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $27.17.

Shares of Rice Energy (NYSE:RICE) opened at 25.98 on Wednesday. The firm has a 50-day moving average of $26.83 and a 200-day moving average of $21.96. The stock’s market cap is $4.07 billion. Rice Energy has a one year low of $7.92 and a one year high of $29.36.

Rice Energy (NYSE:RICE) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $1.01. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. The firm had revenue of $116 million for the quarter, compared to analysts’ expectations of $180.12 million. During the same period in the prior year, the firm posted $0.03 earnings per share. Rice Energy’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts expect that Rice Energy will post $0.04 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. TIAA CREF Investment Management LLC boosted its stake in shares of Rice Energy by 146.8% in the first quarter. TIAA CREF Investment Management LLC now owns 385,929 shares of the company’s stock worth $5,388,000 after buying an additional 229,543 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of Rice Energy by 32.0% in the first quarter. Teachers Advisors Inc. now owns 97,326 shares of the company’s stock worth $1,359,000 after buying an additional 23,593 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Rice Energy by 42.2% in the first quarter. Franklin Resources Inc. now owns 578,640 shares of the company’s stock worth $8,078,000 after buying an additional 171,600 shares during the last quarter. BlackRock Inc. raised its position in shares of Rice Energy by 3.6% in the first quarter. BlackRock Inc. now owns 57,843 shares of the company’s stock worth $807,000 after buying an additional 2,000 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Rice Energy by 5.8% in the first quarter. BlackRock Group LTD now owns 79,963 shares of the company’s stock worth $1,117,000 after buying an additional 4,390 shares during the last quarter. Institutional investors and hedge funds own 76.46% of the company’s stock.

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