Ferrari NV (RACE) to Issue Annual Dividend of $1.17 on May 2nd

Ferrari NV (NYSE:RACE) declared an annual dividend on Thursday, February 28th, Wall Street Journal reports. Stockholders of record on Wednesday, April 24th will be given a dividend of 1.1677 per share on Thursday, May 2nd. This represents a dividend yield of 0.91%. The ex-dividend date is Tuesday, April 23rd. This is an increase from Ferrari’s previous annual dividend of $0.88.

Ferrari has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ferrari to earn $4.44 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 19.8%.

NYSE:RACE opened at $139.91 on Monday. The company has a quick ratio of 3.15, a current ratio of 3.75 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $26.44 billion, a PE ratio of 34.80, a PEG ratio of 1.87 and a beta of 1.57. Ferrari has a 1-year low of $93.85 and a 1-year high of $149.85.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Thursday, January 31st. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $964.27 million during the quarter, compared to analyst estimates of $967.04 million. Ferrari had a net margin of 22.91% and a return on equity of 58.04%. Research analysts anticipate that Ferrari will post 4.05 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on RACE shares. Zacks Investment Research raised shares of Ferrari from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Sanford C. Bernstein raised shares of Ferrari from an “underperform” rating to a “market perform” rating and set a $112.29 price objective for the company in a research report on Tuesday, January 15th. Credit Suisse Group cut their price objective on shares of Ferrari from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, January 28th. Finally, ValuEngine raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Tuesday, February 5th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Ferrari currently has a consensus rating of “Hold” and a consensus price target of $133.66.

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About Ferrari

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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