Royalty Pharma plc (NASDAQ:RPRX) Announces $0.22 Quarterly Dividend

Royalty Pharma plc (NASDAQ:RPRX) announced a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Investors of record on Friday, May 16th will be paid a dividend of 0.22 per share by the biopharmaceutical company on Tuesday, June 10th. This represents a $0.88 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, May 16th.

Royalty Pharma has raised its dividend by an average of 7.3% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Royalty Pharma has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Royalty Pharma to earn $4.86 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 18.1%.

Royalty Pharma Price Performance

NASDAQ RPRX opened at $32.82 on Wednesday. Royalty Pharma has a fifty-two week low of $24.05 and a fifty-two week high of $34.20. The stock’s 50-day moving average is $32.37 and its two-hundred day moving average is $29.86. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $18.92 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The company had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, analysts anticipate that Royalty Pharma will post 4.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RPRX has been the topic of several research analyst reports. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Monday. Citigroup reissued a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Royalty Pharma has a consensus rating of “Buy” and a consensus price target of $42.50.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.