Sanofi (NASDAQ:SNY) Announces Dividend Increase – $1.48 Per Share

Sanofi (NASDAQ:SNY) announced an annual dividend on Tuesday, March 26th, Zacks reports. Shareholders of record on Friday, May 10th will be given a dividend of 1.478 per share on Thursday, June 6th. This represents a yield of 2.98%. The ex-dividend date is Thursday, May 9th. This is a positive change from Sanofi’s previous annual dividend of $1.38.

Sanofi has raised its dividend payment by an average of 3.8% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Sanofi has a payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Sanofi to earn $4.72 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 40.3%.

Sanofi Stock Performance

NASDAQ SNY opened at $49.54 on Thursday. The company’s 50 day simple moving average is $48.19 and its two-hundred day simple moving average is $49.42. The stock has a market capitalization of $125.32 billion, a PE ratio of 20.99, a P/E/G ratio of 1.84 and a beta of 0.61. Sanofi has a 1 year low of $42.63 and a 1 year high of $57.82. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.87.

Sanofi (NASDAQ:SNY) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.05). The company had revenue of $11.76 billion during the quarter, compared to the consensus estimate of $13.02 billion. Sanofi had a return on equity of 27.47% and a net margin of 12.56%. Analysts predict that Sanofi will post 4.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNY has been the topic of a number of recent analyst reports. TheStreet lowered shares of Sanofi from a “b” rating to a “c” rating in a report on Friday, February 9th. JPMorgan Chase & Co. lowered shares of Sanofi from an “overweight” rating to a “neutral” rating in a report on Tuesday, December 5th. Morgan Stanley initiated coverage on shares of Sanofi in a research report on Tuesday, January 23rd. They issued an “equal weight” rating and a $55.00 target price for the company. Finally, StockNews.com cut shares of Sanofi from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $55.00.

Hedge Funds Weigh In On Sanofi

Several large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors lifted its holdings in shares of Sanofi by 0.9% in the third quarter. Captrust Financial Advisors now owns 26,191 shares of the company’s stock worth $996,000 after buying an additional 246 shares in the last quarter. Pathstone Family Office LLC lifted its holdings in shares of Sanofi by 1.7% in the fourth quarter. Pathstone Family Office LLC now owns 14,962 shares of the company’s stock worth $705,000 after buying an additional 251 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Sanofi by 2.1% in the first quarter. Continuum Advisory LLC now owns 12,539 shares of the company’s stock worth $682,000 after buying an additional 254 shares in the last quarter. First Manhattan Co. lifted its holdings in shares of Sanofi by 42.7% in the fourth quarter. First Manhattan Co. now owns 999 shares of the company’s stock worth $48,000 after buying an additional 299 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Sanofi by 1.6% in the first quarter. 1832 Asset Management L.P. now owns 19,078 shares of the company’s stock worth $1,038,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 10.04% of the company’s stock.

About Sanofi

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, 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.