Ferrari (NYSE:RACE) to Issue Annual Dividend of $3.13

Ferrari (NYSE:RACE - Get Free Report) announced an annual dividend on Monday, February 24th, Wall Street Journal reports. Shareholders of record on Wednesday, April 23rd will be given a dividend of 3.1265 per share on Tuesday, May 6th. This represents a dividend yield of 0.5%. The ex-dividend date is Wednesday, April 23rd. This is a positive change from Ferrari's previous annual dividend of $2.44.

Ferrari has increased its dividend payment by an average of 41.2% per year over the last three years. Ferrari has a dividend payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ferrari to earn $10.40 per share next year, which means the company should continue to be able to cover its $3.14 annual dividend with an expected future payout ratio of 30.2%.

Ferrari Stock Down 3.7 %

NYSE:RACE traded down $17.58 during trading hours on Thursday, reaching $462.42. 824,971 shares of the company traded hands, compared to its average volume of 357,035. The business's 50-day moving average price is $448.41 and its two-hundred day moving average price is $456.52. The stock has a market capitalization of $112.71 billion, a P/E ratio of 50.53, a P/E/G ratio of 4.43 and a beta of 0.95. Ferrari has a 1 year low of $399.27 and a 1 year high of $509.13. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Ferrari in a research report on Thursday, February 6th. They issued a "hold" rating on the stock. Barclays downgraded Ferrari from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, February 5th. UBS Group upped their price objective on Ferrari from $478.00 to $513.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Finally, StockNews.com raised Ferrari from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $507.14.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.