Cameco Co. (NYSE:CCJ) Declares Dividend Increase - $0.12 Per Share

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO declared an annual dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Wednesday, November 27th will be paid a dividend of 0.118 per share by the basic materials company on Friday, December 13th. This represents a dividend yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is an increase from Cameco's previous annual dividend of $0.09.

Cameco has raised its dividend payment by an average of 14.5% per year over the last three years. Cameco has a payout ratio of 7.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cameco to earn $1.62 per share next year, which means the company should continue to be able to cover its $0.09 annual dividend with an expected future payout ratio of 5.6%.

Cameco Price Performance

Shares of Cameco stock traded down $1.04 on Friday, hitting $52.54. The company's stock had a trading volume of 4,049,344 shares, compared to its average volume of 4,412,563. The company has a market capitalization of $22.86 billion, a price-to-earnings ratio of 120.70 and a beta of 0.89. Cameco has a 1 year low of $35.43 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The firm has a fifty day moving average price of $48.03 and a 200-day moving average price of $48.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business had revenue of $721.00 million during the quarter, compared to analysts' expectations of $646.83 million. During the same quarter last year, the firm earned $0.24 earnings per share. The firm's quarterly revenue was up 25.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cameco will post 0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on CCJ. Scotiabank reduced their price objective on Cameco from $81.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, August 19th. Janney Montgomery Scott raised shares of Cameco to a "strong-buy" rating in a research note on Friday, October 4th. Glj Research reiterated a "buy" rating and issued a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. National Bank Financial upgraded Cameco to a "strong-buy" rating in a report on Tuesday, September 3rd. Finally, Cantor Fitzgerald raised Cameco from a "neutral" rating to an "overweight" rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $66.56.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.