Ferguson plc (NASDAQ:FERG) Announces Quarterly Dividend of $0.83

Ferguson plc (NASDAQ:FERG) announced a quarterly dividend on Tuesday, March 11th, Wall Street Journal reports. Shareholders of record on Friday, March 21st will be paid a dividend of 0.83 per share on Tuesday, May 6th. This represents a $3.32 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, March 21st.

Ferguson has a dividend payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ferguson to earn $10.62 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 29.8%.

Ferguson Stock Performance

Shares of FERG opened at $155.94 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The stock has a market capitalization of $31.18 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. Ferguson has a 12-month low of $154.09 and a 12-month high of $225.63. The business’s fifty day moving average price is $176.55 and its 200 day moving average price is $190.86.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same period in the previous year, the firm earned $1.74 earnings per share. Ferguson’s revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that Ferguson will post 9.4 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. UBS Group reiterated a “neutral” rating and set a $193.00 price target (down from $230.00) on shares of Ferguson in a report on Wednesday, January 8th. Morgan Stanley began coverage on Ferguson in a research note on Monday, February 3rd. They issued an “overweight” rating and a $204.00 target price for the company. Wells Fargo & Company lowered their price target on Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday. Oppenheimer decreased their target price on Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Citigroup decreased their price target on Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Ferguson has a consensus rating of “Moderate Buy” and a consensus price target of $201.64.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.