Opera Limited Plans Semi-annual Dividend of $0.40 (NASDAQ:OPRA)

Opera Limited (NASDAQ:OPRA) announced a semi-annual dividend on Thursday, December 12th,Wall Street Journal reports. Stockholders of record on Monday, January 6th will be paid a dividend of 0.40 per share on Monday, January 13th. This represents a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, January 6th.

Opera has a payout ratio of 80.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Opera to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 84.2%.

Opera Price Performance

Shares of NASDAQ:OPRA opened at $19.55 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. Opera has a 12 month low of $10.11 and a 12 month high of $20.70. The firm has a market capitalization of $1.73 billion, a P/E ratio of 9.92 and a beta of 1.03. The company’s fifty day moving average price is $18.95 and its 200 day moving average price is $15.64.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OPRA. B. Riley restated a “buy” rating and set a $25.00 target price (up from $24.00) on shares of Opera in a research report on Wednesday, October 30th. TD Cowen lifted their price objective on shares of Opera from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their target price on shares of Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Lake Street Capital boosted their price target on Opera from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, Opera currently has an average rating of “Buy” and a consensus target price of $24.75.

About Opera

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.