Luminex Co. (LMNX) Plans Quarterly Dividend of $0.06
Luminex Co. (NASDAQ:LMNX) declared a quarterly dividend on Monday, February 11th, Wall Street Journal reports. Stockholders of record on Thursday, March 21st will be given a dividend of 0.06 per share by the medical instruments supplier on Thursday, April 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Wednesday, March 20th.
Luminex has a payout ratio of 44.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Luminex to earn $0.53 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 45.3%.
Shares of LMNX stock traded up $0.24 on Monday, reaching $24.86. 220,790 shares of the company were exchanged, compared to its average volume of 297,835. The stock has a market capitalization of $1.10 billion, a PE ratio of 51.73, a price-to-earnings-growth ratio of 5.62 and a beta of 0.81. Luminex has a one year low of $18.62 and a one year high of $35.37.
A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Luminex from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. ValuEngine upgraded shares of Luminex from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 29th. Zacks Investment Research lowered shares of Luminex from a “hold” rating to a “sell” rating in a research note on Friday, January 18th. Citigroup decreased their price objective on shares of Luminex from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Tuesday, November 6th. Finally, TheStreet lowered shares of Luminex from a “b-” rating to a “c+” rating in a research note on Friday, December 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $28.40.
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Luminex Corporation develops, manufactures, and sells proprietary biological testing technologies and products for the diagnostics, pharmaceutical, and research industries worldwide. Its products include Luminex 100/200 that integrates fluidics, optics, and digital signal processing; FLEXMAP 3D system for use as a general laboratory instrument; MAGPIX system, a multiplexing analyzer for qualitative and quantitative analysis of proteins and nucleic acids; ARIES system, a sample to answer real-time PCR platform; ARIES M1 system, a single-module version of the ARIES System; and VERIGENE system, an automated multiplex-capable system.
Further Reading: How to execute a trade ex-dividend strategy?
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