Andersons Inc (ANDE) to Issue Quarterly Dividend of $0.17 on January 23rd
Andersons Inc (NASDAQ:ANDE) announced a quarterly dividend on Thursday, December 21st, Wall Street Journal reports. Stockholders of record on Tuesday, January 2nd will be given a dividend of 0.165 per share by the basic materials company on Tuesday, January 23rd. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, December 29th. This is a boost from Andersons’s previous quarterly dividend of $0.16.
Andersons has decreased its dividend by an average of 1.1% annually over the last three years and has increased its dividend every year for the last 2 years. Andersons has a dividend payout ratio of 59.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Andersons to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 35.0%.
Shares of Andersons (NASDAQ ANDE) opened at $31.85 on Friday. Andersons has a 52-week low of $29.60 and a 52-week high of $44.75. The stock has a market capitalization of $897.51, a P/E ratio of -53.08 and a beta of 1.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 0.56.
Andersons (NASDAQ:ANDE) last released its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.07). Andersons had a negative net margin of 0.45% and a positive return on equity of 3.91%. The business had revenue of $836.60 million during the quarter, compared to analyst estimates of $899.95 million. During the same period in the previous year, the business earned $0.06 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. sell-side analysts anticipate that Andersons will post 1.08 EPS for the current year.
ANDE has been the subject of a number of recent analyst reports. Zacks Investment Research raised Andersons from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. BMO Capital Markets lowered their target price on Andersons from $39.00 to $34.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 8th. Finally, Buckingham Research lowered Andersons from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Andersons presently has an average rating of “Hold” and a consensus price target of $34.50.
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The Andersons, Inc is a diversified company. The Company conducts business across North America in the grain, ethanol, plant nutrient and rail sectors. The Company also produces turf and cob products. The Company operates through segments, including Grain, Ethanol, Rail and Plant Nutrient. Its Grain business operates grain elevators in various states in the United States Corn Belt.
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