Patria Investments Limited (NYSE:PAX) Announces $0.15 Quarterly Dividend

Patria Investments Limited (NYSE:PAX) declared a quarterly dividend on Wednesday, October 30th,Wall Street Journal reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.15 per share on Monday, December 9th. This represents a $0.60 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Monday, November 18th.

Patria Investments has a dividend payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Patria Investments to earn $1.51 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 39.7%.

Patria Investments Trading Down 2.4 %

NYSE:PAX opened at $11.92 on Friday. Patria Investments has a one year low of $10.63 and a one year high of $16.16. The business has a fifty day moving average price of $11.46 and a 200-day moving average price of $12.07. The firm has a market capitalization of $712.46 million, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 1.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.88 and a quick ratio of 0.88.

Patria Investments (NYSE:PAX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Patria Investments had a return on equity of 34.00% and a net margin of 19.68%. The company had revenue of $78.10 million during the quarter, compared to analysts’ expectations of $76.55 million. During the same quarter in the previous year, the company earned $0.23 EPS. Sell-side analysts forecast that Patria Investments will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered their price target on shares of Patria Investments from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd.

About Patria Investments

Patria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds.