Medifast Inc (NYSE:MED) Plans $0.75 — Dividend

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Medifast Inc (NYSE:MED) declared a — dividend on Friday, September 13th, Wall Street Journal reports. Shareholders of record on Friday, September 27th will be given a dividend of 0.75 per share by the specialty retailer on Thursday, November 7th. This represents a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, September 26th.

Medifast has a dividend payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Medifast to earn $8.59 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 34.9%.

Shares of NYSE:MED traded up $1.03 on Friday, hitting $106.05. The company had a trading volume of 565,925 shares, compared to its average volume of 276,788. Medifast has a 1-year low of $96.40 and a 1-year high of $253.90. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 22.95 and a beta of 0.70. The stock has a 50 day moving average price of $104.27 and a 200 day moving average price of $126.10.

Medifast (NYSE:MED) last released its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $1.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.04. Medifast had a net margin of 11.22% and a return on equity of 61.06%. The firm had revenue of $187.10 million for the quarter, compared to the consensus estimate of $181.74 million. During the same period in the previous year, the company earned $1.16 earnings per share. The company’s quarterly revenue was up 59.5% on a year-over-year basis. On average, equities analysts predict that Medifast will post 6.86 EPS for the current year.

Several equities analysts have commented on the stock. ValuEngine downgraded shares of Medifast from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Jefferies Financial Group assumed coverage on shares of Medifast in a report on Thursday, July 25th. They issued a “buy” rating and a $130.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a report on Tuesday, August 6th.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.

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Dividend History for Medifast (NYSE:MED)

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