Sanofi (NASDAQ:SNY) Increases Dividend to $2.04 Per Share

Sanofi (NASDAQ:SNY) declared an annual dividend on Thursday, April 17th, Wall Street Journal reports. Investors of record on Friday, May 9th will be given a dividend of 2.0369 per share on Thursday, June 12th. This represents a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, May 9th. This is a 37.8% increase from Sanofi’s previous annual dividend of $1.48.

Sanofi has increased its dividend payment by an average of 1.8% per year over the last three years. Sanofi has a payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sanofi to earn $4.75 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 42.9%.

Sanofi Price Performance

Shares of Sanofi stock traded up $0.34 during trading on Thursday, hitting $50.90. 2,856,261 shares of the stock traded hands, compared to its average volume of 2,367,667. The firm’s fifty day moving average is $54.83 and its 200-day moving average is $52.28. The stock has a market cap of $128.59 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.01 and a beta of 0.57. Sanofi has a 52 week low of $45.22 and a 52 week high of $60.12. The company has a quick ratio of 1.14, a current ratio of 1.46 and a debt-to-equity ratio of 0.15.

Sanofi (NASDAQ:SNY) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. Sanofi had a net margin of 12.77% and a return on equity of 25.61%. Research analysts expect that Sanofi will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SNY. BNP Paribas started coverage on Sanofi in a research note on Tuesday. They set an “outperform” rating and a $65.00 price objective for the company. The Goldman Sachs Group began coverage on Sanofi in a report on Friday, March 21st. They issued a “neutral” rating and a $65.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded Sanofi from a “sell” rating to a “hold” rating in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein raised Sanofi to a “strong-buy” rating in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $63.33.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sanofi stock. Brighton Jones LLC grew its position in Sanofi (NASDAQ:SNY) by 52.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,420 shares of the company’s stock after buying an additional 1,869 shares during the quarter. Brighton Jones LLC’s holdings in Sanofi were worth $261,000 at the end of the most recent reporting period. 14.04% of the stock is currently owned by hedge funds and other institutional investors.

About Sanofi

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, Canada, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.