Ultimate Products’ (ULTP) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Ultimate Products (LON:ULTP) in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have a GBX 130 ($1.68) price objective on the stock.

Ultimate Products Price Performance

LON ULTP opened at GBX 74.20 ($0.96) on Tuesday. The company has a market cap of £62.97 million, a P/E ratio of 6.09 and a beta of 1.39. The stock has a 50-day moving average of GBX 87.12 and a two-hundred day moving average of GBX 113.45. Ultimate Products has a 1-year low of GBX 71 ($0.92) and a 1-year high of GBX 185.50 ($2.40).

Ultimate Products (LON:ULTP) last posted its quarterly earnings results on Tuesday, March 25th. The company reported GBX 4.30 ($0.06) EPS for the quarter. Ultimate Products had a net margin of 6.77% and a return on equity of 21.95%. On average, analysts anticipate that Ultimate Products will post 14.53125 EPS for the current fiscal year.

Ultimate Products Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, May 29th will be given a dividend of GBX 1.55 ($0.02) per share. This represents a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, May 29th. Ultimate Products’s dividend payout ratio (DPR) is presently 57.44%.

About Ultimate Products

Ultimate Products is the owner of a number of leading homeware brands including Salter (the UK’s oldest houseware brand, established in 1760) and Beldray (a laundry, floor care, heating and cooling brand that was established in 1872). According to its market research, nearly 80% of UK households own at least one of the Group’s products.

Ultimate Products sells to over 300 retailers across 38 countries, and specialises in five product categories: Small Domestic Appliances; Housewares; Laundry; Audio; and Heating and Cooling.