Royalty Pharma plc (NASDAQ:RPRX) Announces Quarterly Dividend of $0.21

Royalty Pharma plc (NASDAQ:RPRXGet Free Report) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors of record on Friday, May 17th will be paid a dividend of 0.21 per share by the biopharmaceutical company on Friday, June 14th. This represents a $0.84 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, May 16th.

Royalty Pharma has increased its dividend payment by an average of 38.7% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Royalty Pharma has a dividend payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Royalty Pharma to earn $4.39 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 19.1%.

Royalty Pharma Price Performance

RPRX opened at $28.07 on Wednesday. The stock has a market capitalization of $16.77 billion, a P/E ratio of 20.95, a PEG ratio of 4.63 and a beta of 0.47. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 0.62. Royalty Pharma has a 12-month low of $25.92 and a 12-month high of $34.74. The stock has a 50-day moving average price of $29.05 and a 200-day moving average price of $28.63.

Royalty Pharma (NASDAQ:RPRXGet Free Report) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.02. Royalty Pharma had a return on equity of 22.94% and a net margin of 35.70%. The company had revenue of $568.00 million for the quarter, compared to analysts’ expectations of $671.45 million. During the same period last year, the firm earned $1.60 earnings per share. Equities analysts predict that Royalty Pharma will post 4.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com cut Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. JPMorgan Chase & Co. dropped their price target on Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, February 20th. The Goldman Sachs Group dropped their target price on Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Finally, Bank of America reduced their target price on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Check Out Our Latest Stock Analysis on RPRX

About Royalty Pharma

(Get Free Report)

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.

Further Reading

Dividend History for Royalty Pharma (NASDAQ:RPRX)

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