Sanofi (NASDAQ:SNY) Plans Dividend Increase – $2.04 Per Share

Sanofi (NASDAQ:SNY) declared an annual dividend on Thursday, April 17th, Wall Street Journal reports. Shareholders of record on Friday, May 9th will be given a dividend of 2.0369 per share on Thursday, June 12th. This represents a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, May 9th. This is a 37.8% increase from Sanofi’s previous annual dividend of $1.48.

Sanofi has increased its dividend by an average of 1.8% annually over the last three years. Sanofi has a dividend payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sanofi to earn $4.75 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 42.9%.

Sanofi Stock Performance

SNY traded up $0.34 during midday trading on Thursday, hitting $50.90. 2,856,261 shares of the company were exchanged, compared to its average volume of 2,367,667. The company has a current ratio of 1.46, a quick ratio of 1.14 and a debt-to-equity ratio of 0.15. Sanofi has a 1-year low of $45.22 and a 1-year high of $60.12. The company’s 50 day simple moving average is $54.83 and its 200 day simple moving average is $52.28. The firm has a market capitalization of $128.59 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.57.

Sanofi (NASDAQ:SNY) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. Sanofi had a return on equity of 25.61% and a net margin of 12.77%. As a group, sell-side analysts predict that Sanofi will post 4.36 earnings per share for the current year.

Analysts Set New Price Targets

SNY has been the subject of several research reports. BNP Paribas started coverage on shares of Sanofi in a report on Tuesday. They issued an “outperform” rating and a $65.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Sanofi from a “sell” rating to a “hold” rating in a research report on Thursday, January 30th. The Goldman Sachs Group started coverage on Sanofi in a research report on Friday, March 21st. They set a “neutral” rating and a $65.00 price target on the stock. Finally, Sanford C. Bernstein raised Sanofi to a “strong-buy” rating in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.33.

Hedge Funds Weigh In On Sanofi

An institutional investor recently raised its position in Sanofi stock. Brighton Jones LLC grew its position in shares of Sanofi (NASDAQ:SNY) by 52.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,420 shares of the company’s stock after purchasing an additional 1,869 shares during the period. Brighton Jones LLC’s holdings in Sanofi were worth $261,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 14.04% of the company’s stock.

About Sanofi

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, Canada, 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.