Dr. Reddy’s Laboratories Limited (RDY) To Go Ex-Dividend on July 30th

Dr. Reddy’s Laboratories Limited (NYSE:RDY) declared an annual dividend on Wednesday, July 24th, Wall Street Journal reports. Shareholders of record on Friday, January 1st will be given a dividend of 0.4069 per share on Tuesday, July 30th. This represents a yield of 0.5%. The ex-dividend date is Tuesday, July 30th.

Dr. Reddy’s Laboratories has increased its dividend payment by an average of 13.1% annually over the last three years. Dr. Reddy’s Laboratories has a dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Dr. Reddy’s Laboratories to earn $3.86 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 12.4%.

Dr. Reddy’s Laboratories Stock Up 0.5 %

Shares of Dr. Reddy’s Laboratories stock opened at $81.22 on Friday. The company has a quick ratio of 1.92, a current ratio of 2.58 and a debt-to-equity ratio of 0.02. Dr. Reddy’s Laboratories has a twelve month low of $63.72 and a twelve month high of $81.98. The company has a market cap of $13.55 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 1.82 and a beta of 0.56. The company’s 50 day moving average is $74.02 and its 200 day moving average is $73.24.

Dr. Reddy’s Laboratories (NYSE:RDY) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.08. Dr. Reddy’s Laboratories had a return on equity of 21.32% and a net margin of 19.97%. The firm had revenue of $850.00 million for the quarter, compared to analysts’ expectations of $825.20 million. Research analysts anticipate that Dr. Reddy’s Laboratories will post 4.03 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on RDY. StockNews.com lowered shares of Dr. Reddy’s Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th. Barclays upped their target price on shares of Dr. Reddy’s Laboratories from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th.

About Dr. Reddy’s Laboratories

Dr. Reddy's Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company's Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations.