Dr. Reddy’s Laboratories Limited Declares Annual Dividend of $0.41 (NYSE:RDY)

Dr. Reddy’s Laboratories Limited (NYSE:RDY) declared an annual dividend on Wednesday, July 24th, Wall Street Journal reports. Investors of record on Friday, January 1st will be given a dividend of 0.4069 per share on Tuesday, July 30th. This represents a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, July 30th.

Dr. Reddy’s Laboratories has increased its dividend by an average of 13.1% annually over the last three years. Dr. Reddy’s Laboratories has a dividend payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Dr. Reddy’s Laboratories to earn $3.86 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 12.4%.

Dr. Reddy’s Laboratories Stock Performance

Shares of RDY opened at $81.22 on Monday. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 1.82 and a beta of 0.55. Dr. Reddy’s Laboratories has a 12 month low of $63.72 and a 12 month high of $81.98. The company’s fifty day moving average is $74.02 and its 200-day moving average is $73.29. The company has a quick ratio of 1.92, a current ratio of 2.58 and a debt-to-equity ratio of 0.02.

Dr. Reddy’s Laboratories (NYSE:RDY) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. The company had revenue of $850.00 million during the quarter, compared to analysts’ expectations of $825.20 million. Dr. Reddy’s Laboratories had a return on equity of 21.32% and a net margin of 19.97%. Equities analysts expect that Dr. Reddy’s Laboratories will post 4.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RDY shares. Barclays raised their price target on Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 16th.

About Dr. Reddy’s Laboratories

Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations.