Royalty Pharma plc (RPRX) To Go Ex-Dividend on August 16th

Royalty Pharma plc (NASDAQ:RPRX) announced a quarterly dividend on Wednesday, July 17th, Zacks reports. Stockholders of record on Friday, August 16th will be given a dividend of 0.21 per share by the biopharmaceutical company on Friday, September 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, August 16th.

Royalty Pharma has raised its dividend by an average of 38.7% per year over the last three years. Royalty Pharma has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Royalty Pharma to earn $4.37 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 19.2%.

Royalty Pharma Price Performance

RPRX stock opened at $28.33 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 12.52 and a current ratio of 12.52. The business has a 50-day simple moving average of $26.91 and a two-hundred day simple moving average of $28.37. The company has a market capitalization of $16.93 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 3.66 and a beta of 0.46. Royalty Pharma has a 52-week low of $25.20 and a 52-week high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The company had revenue of $568.00 million for the quarter, compared to analysts’ expectations of $671.45 million. Royalty Pharma had a return on equity of 22.94% and a net margin of 35.70%. During the same quarter in the previous year, the firm earned $1.60 earnings per share. Research analysts expect that Royalty Pharma will post 4.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group downgraded shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Monday, June 3rd. StockNews.com cut shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Morgan Stanley boosted their target price on Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Bank of America decreased their price target on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.80.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.