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

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

Royalty Pharma has increased its dividend by an average of 38.7% per year over the last three years. Royalty Pharma has a dividend payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 1.9 %

RPRX opened at $28.02 on Friday. The company’s 50 day moving average price is $27.86 and its two-hundred day moving average price is $27.77. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. Royalty Pharma has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. The firm has a market capitalization of $16.63 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 4.06 and a beta of 0.46.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (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 company had revenue of $537.00 million for the quarter, compared to the consensus estimate of $600.83 million. During the same quarter in the previous year, the company earned $0.85 EPS. As a group, research analysts predict that Royalty Pharma will post 4.04 earnings per share for the current year.

Analysts Set New Price Targets

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