Raven Industries, Inc. (RAVN) Announces $0.13 Quarterly Dividend
Raven Industries, Inc. (NASDAQ:RAVN) announced a quarterly dividend on Tuesday, December 5th, Wall Street Journal reports. Shareholders of record on Friday, January 12th will be given a dividend of 0.13 per share by the conglomerate on Friday, January 26th. This represents a $0.52 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, January 11th.
Raven Industries has increased its dividend by an average of 2.0% per year over the last three years. Raven Industries has a dividend payout ratio of 51.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Raven Industries to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 44.4%.
Shares of Raven Industries (NASDAQ:RAVN) opened at $35.40 on Wednesday. The stock has a market capitalization of $1,270.00, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 3.47 and a beta of 1.48. Raven Industries has a fifty-two week low of $23.65 and a fifty-two week high of $38.35.
Raven Industries (NASDAQ:RAVN) last released its earnings results on Monday, November 20th. The conglomerate reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.10. The firm had revenue of $101.35 million for the quarter, compared to analyst estimates of $84.54 million. Raven Industries had a return on equity of 17.69% and a net margin of 11.84%. equities research analysts predict that Raven Industries will post 1.02 earnings per share for the current year.
RAVN has been the topic of several recent research reports. Zacks Investment Research raised Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Friday, December 8th. BidaskClub lowered Raven Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Dougherty & Co lowered Raven Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, December 5th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $31.00 price objective on shares of Raven Industries in a report on Sunday, October 1st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Raven Industries has a consensus rating of “Hold” and an average price target of $35.00.
Raven Industries announced that its board has initiated a share buyback plan on Monday, December 4th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the conglomerate to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
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About Raven Industries
Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).
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