Ferguson plc (NASDAQ:FERG) to Issue $0.83 Quarterly Dividend

Ferguson plc (NASDAQ:FERG) declared a quarterly dividend on Tuesday, March 11th, Wall Street Journal reports. Investors of record on Friday, March 21st will be given a dividend of 0.83 per share on Tuesday, May 6th. This represents a $3.32 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, March 21st.

Ferguson has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ferguson to earn $10.62 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 29.8%.

Ferguson Stock Up 0.0 %

NASDAQ FERG opened at $162.62 on Wednesday. The stock’s 50 day moving average is $175.48 and its 200 day moving average is $189.40. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson has a 12 month low of $152.52 and a 12 month high of $225.63. The stock has a market cap of $32.52 billion, a PE ratio of 19.52, a P/E/G ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.06). The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $1.74 earnings per share. Research analysts predict that Ferguson will post 9.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on FERG. Wolfe Research began coverage on Ferguson in a report on Monday. They set a “peer perform” rating on the stock. Robert W. Baird set a $190.00 price objective on Ferguson and gave the stock an “outperform” rating in a report on Wednesday, March 12th. Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $225.00 in a report on Wednesday, January 8th. Berenberg Bank upped their price objective on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, UBS Group reaffirmed a “neutral” rating and set a $193.00 price objective (down from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.64.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.