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

Dr. Reddy’s Laboratories Limited (NYSE:RDY) announced an annual dividend on Wednesday, July 24th, Wall Street Journal reports. Shareholders 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 is Tuesday, July 30th.

Dr. Reddy’s Laboratories has raised its dividend payment by an average of 13.1% per year 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. Research 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 Price Performance

Shares of NYSE RDY opened at $81.22 on Monday. The company has a current ratio of 2.58, a quick ratio of 1.92 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $74.02 and its 200-day moving average price is $73.29. The firm has a market capitalization of $13.55 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.82 and a beta of 0.55. Dr. Reddy’s Laboratories has a 1-year low of $63.72 and a 1-year high of $81.98.

Dr. Reddy’s Laboratories (NYSE:RDY) last posted 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. Dr. Reddy’s Laboratories had a return on equity of 21.32% and a net margin of 19.97%. The business had revenue of $850.00 million for the quarter, compared to the consensus estimate of $825.20 million. Equities research analysts anticipate that Dr. Reddy’s Laboratories will post 4.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on RDY. Barclays boosted their price target on shares of Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. StockNews.com downgraded shares of Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research report 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.