Ferguson plc (FERG) to Issue Quarterly Dividend of $0.79 on November 8th

Ferguson plc (NASDAQ:FERG) announced a quarterly dividend on Tuesday, September 17th, Wall Street Journal reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.79 per share on Friday, November 8th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, September 27th.

Ferguson has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ferguson to earn $10.28 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 30.7%.

Ferguson Stock Performance

Shares of FERG opened at $205.52 on Thursday. Ferguson has a 12 month low of $147.62 and a 12 month high of $225.63. The firm has a fifty day simple moving average of $204.35 and a 200 day simple moving average of $206.95. The stock has a market capitalization of $41.50 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 6.13 and a beta of 1.21. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The company had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same period in the prior year, the business posted $2.77 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts forecast that Ferguson will post 9.63 EPS for the current fiscal year.

Ferguson announced that its board has initiated a stock repurchase program on Tuesday, June 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Jefferies Financial Group raised their price target on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. UBS Group boosted their target price on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada boosted their target price on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup lifted their price objective on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Barclays boosted their price objective on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.57.

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.