Ferrari (RACE) To Go Ex-Dividend on April 23rd

Ferrari (NYSE:RACE) declared an annual dividend on Monday, February 24th, Wall Street Journal reports. Shareholders of record on Wednesday, April 23rd will be paid a dividend of 3.1265 per share on Tuesday, May 6th. This represents a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Ferrari’s previous annual dividend of $2.44.

Ferrari has raised its dividend payment by an average of 41.2% per year over the last three years. Ferrari has a dividend payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ferrari to earn $10.40 per share next year, which means the company should continue to be able to cover its $3.14 annual dividend with an expected future payout ratio of 30.2%.

Ferrari Trading Up 1.1 %

Shares of RACE opened at $504.95 on Wednesday. The stock’s fifty day simple moving average is $447.27 and its 200-day simple moving average is $456.36. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $123.08 billion, a PE ratio of 55.19, a price-to-earnings-growth ratio of 4.43 and a beta of 0.95. Ferrari has a 12-month low of $399.27 and a 12-month high of $509.13.

Analyst Ratings Changes

Several research analysts have recently issued reports on RACE shares. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Ferrari in a research report on Thursday, February 6th. They issued a “hold” rating on the stock. UBS Group raised their price objective on Ferrari from $478.00 to $513.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Ferrari currently has a consensus rating of “Moderate Buy” and a consensus target price of $507.14.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.