Dr. Reddy’s Laboratories Ltd (NYSE:RDY) announced a dividend on Tuesday, June 6th, NASDAQ reports. Shareholders of record on Monday, July 17th will be paid a dividend of 0.29 per share on Monday, July 17th. The ex-dividend date is Thursday, July 13th.
Dr. Reddy’s Laboratories has increased its dividend payment by an average of 7.4% per year over the last three years. Dr. Reddy’s Laboratories has a dividend payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dr. Reddy’s Laboratories to earn $1.81 per share next year, which means the company should continue to be able to cover its $0.29 annual dividend with an expected future payout ratio of 16.0%.
Shares of Dr. Reddy’s Laboratories (RDY) traded down 4.19% during mid-day trading on Friday, reaching $34.57. 704,387 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $41.13 and its 200 day moving average price is $41.55. The company has a market cap of $5.73 billion, a PE ratio of 32.49 and a beta of 0.33. Dr. Reddy’s Laboratories has a 52-week low of $34.52 and a 52-week high of $50.10.
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A number of research analysts recently commented on the company. BidaskClub cut Dr. Reddy’s Laboratories from a “hold” rating to a “sell” rating in a report on Monday, July 31st. CLSA cut Dr. Reddy’s Laboratories from an “underperform” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research raised Dr. Reddy’s Laboratories from a “strong sell” rating to a “hold” rating in a report on Friday, July 14th. Finally, Deutsche Bank AG raised Dr. Reddy’s Laboratories from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Dr. Reddy’s Laboratories currently has a consensus rating of “Hold”.
Dr. Reddy’s Laboratories Company Profile
Dr. Reddy’s Laboratories Limited is a pharmaceutical company that is engaged in providing medicines. The Company operates in three segments: Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Proprietary Products. The Global Generics segment includes manufacturing and marketing prescription and over-the-counter finished pharmaceutical products ready for consumption by the patient, marketed under a brand name (branded formulations) or as generic finished dosages with therapeutic equivalence to branded formulations (generics).
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