Royalty Pharma PLC (NASDAQ:RPRX) Declares $0.24 Quarterly Dividend

Royalty Pharma PLC (NASDAQ:RPRX) declared a quarterly dividend on Friday, April 17th. Shareholders of record on Friday, May 15th will be given a dividend of 0.235 per share by the biopharmaceutical company on Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, May 15th.

Royalty Pharma has raised its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 5 years. Royalty Pharma has a dividend payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Royalty Pharma to earn $4.86 per share next year, which means the company should continue to be able to cover its $0.94 annual dividend with an expected future payout ratio of 19.3%.

Royalty Pharma Price Performance

Shares of RPRX opened at $50.00 on Friday. The company’s 50-day moving average is $46.45 and its 200-day moving average is $41.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.40 and a quick ratio of 2.40. The firm has a market capitalization of $28.84 billion, a PE ratio of 37.04, a PEG ratio of 3.10 and a beta of 0.39. Royalty Pharma has a fifty-two week low of $31.58 and a fifty-two week high of $50.00.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.33 by $0.13. The business had revenue of $621.99 million during the quarter, compared to the consensus estimate of $839.97 million. Royalty Pharma had a net margin of 32.38% and a return on equity of 28.21%. Equities analysts forecast that Royalty Pharma will post 4.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RPRX shares. UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Friday, January 30th. Morgan Stanley increased their price objective on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Royalty Pharma in a research report on Thursday, February 12th. TD Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Finally, Wall Street Zen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $49.00.

Royalty Pharma Company Profile

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.