Zedge, Inc. (ZDGE) to Issue Quarterly Dividend of $0.02 on November 23rd

Zedge, Inc. (NYSEAMERICAN:ZDGE) announced a quarterly dividend on Monday, October 26th. Shareholders of record on Monday, November 9th will be given a dividend of $0.02 per share on Monday, November 23rd. This represents a $0.08 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, November 9th.

Zedge Stock Down 2.6%

ZDGE opened at $2.24 on Friday. The business has a fifty day simple moving average of $2.84 and a 200-day simple moving average of $3.01. The firm has a market cap of $33.60 million, a P/E ratio of -111.94 and a beta of 1.32. Zedge has a 52 week low of $2.13 and a 52 week high of $4.70.

Zedge (NYSEAMERICAN:ZDGE) last posted its earnings results on Monday, October 26th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $7.77 million for the quarter, compared to analysts’ expectations of $7.20 million. Zedge had a negative net margin of 0.41% and a positive return on equity of 13.19%. Sell-side analysts expect that Zedge will post 0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Zedge from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has an average rating of “Sell” and an average price target of $6.00.

Zedge Company Profile

Zedge, Inc (NYSE American: ZDGE) operates a mobile-first digital content platform that enables users to discover, customize and share content for smartphones and other personal devices. Its principal consumer product is the Zedge app, which offers wallpapers, video wallpapers, ringtones, notification sounds, stickers and other personalization content.

The company provides both free and premium content, with offerings from independent creators as well as technology-assisted and user-generated content.