Royalty Pharma plc (NASDAQ:RPRX) to Issue $0.21 Quarterly Dividend

Royalty Pharma plc (NASDAQ:RPRX) declared a quarterly dividend on Friday, October 11th, Zacks reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.21 per share by the biopharmaceutical company on Tuesday, December 10th. This represents a $0.84 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, November 15th.

Royalty Pharma has increased its dividend payment by an average of 38.7% per year over the last three years. Royalty Pharma has a dividend payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Royalty Pharma to earn $4.33 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 19.4%.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $28.02 on Friday. The stock has a market cap of $16.63 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 4.06 and a beta of 0.46. The firm’s fifty day simple moving average is $27.86 and its 200 day simple moving average is $27.77. Royalty Pharma has a twelve month low of $25.20 and a twelve month high of $31.66. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 0.78.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. The firm had revenue of $537.00 million for the quarter, compared to analysts’ expectations of $600.83 million. During the same quarter in the previous year, the business posted $0.85 EPS. As a group, research analysts predict that Royalty Pharma will post 4.04 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group upped their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley upped their price target on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.