Patria Investments Limited (PAX) to Issue Quarterly Dividend of $0.15 on December 9th

Patria Investments Limited (NYSE:PAX) declared a quarterly dividend on Wednesday, October 30th,Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Monday, November 18th.

Patria Investments has a 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 %

Shares of NYSE:PAX opened at $11.92 on Friday. Patria Investments has a 1 year low of $10.63 and a 1 year high of $16.16. The stock’s fifty day moving average price is $11.46 and its 200-day moving average price is $12.07. The company has a market cap of $712.46 million, a P/E ratio of 27.72, a PEG 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 announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Patria Investments had a net margin of 19.68% and a return on equity of 34.00%. The company had revenue of $78.10 million for the quarter, compared to analysts’ expectations of $76.55 million. During the same period in the previous year, the business earned $0.23 EPS. Sell-side analysts expect that Patria Investments will post 1.05 earnings per share for the current year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group decreased their target price on shares of Patria Investments from $16.00 to $14.00 and set a “buy” rating for the company in a research note 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.