Sanofi (NASDAQ:SNY) to Issue Dividend Increase – $1.48 Per Share

Sanofi (NASDAQ:SNY) announced an annual dividend on Tuesday, March 26th, Zacks reports. Investors of record on Friday, May 10th will be given a dividend of 1.478 per share on Thursday, June 6th. This represents a yield of 2.98%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Sanofi’s previous annual dividend of $1.38.

Sanofi has increased its dividend payment by an average of 3.8% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Sanofi has a payout ratio of 43.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sanofi to earn $4.66 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 43.8%.

Sanofi Stock Up 0.5 %

NASDAQ:SNY opened at $49.57 on Wednesday. The firm has a market capitalization of $125.39 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 1.37 and a beta of 0.61. Sanofi has a 52 week low of $42.63 and a 52 week high of $55.72. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $47.92 and a 200-day moving average of $48.14.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SNY shares. TheStreet cut Sanofi from a “b” rating to a “c” rating in a research note on Friday, February 9th. Morgan Stanley began coverage on shares of Sanofi in a research note on Tuesday, January 23rd. They set an “equal weight” rating and a $55.00 target price for the company. Finally, StockNews.com lowered shares of Sanofi from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.00.

Sanofi Company Profile

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.