Match Group Inc. (MTCH) To Go Ex-Dividend on July 7th

Match Group Inc. (NASDAQ:MTCH) announced a quarterly dividend on Sunday, May 3rd. Investors of record on Tuesday, July 7th will be paid a dividend of 0.20 per share by the technology company on Tuesday, July 21st. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, July 7th.

Match Group has decreased its dividend payment by an average of 0.7%annually over the last three years. Match Group has a payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Match Group to earn $3.49 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 22.9%.

Match Group Stock Performance

MTCH stock opened at $37.90 on Friday. The firm has a 50 day moving average price of $36.05 and a 200-day moving average price of $33.26. Match Group has a 52-week low of $28.81 and a 52-week high of $39.20. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. As a group, sell-side analysts forecast that Match Group will post 3.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MTCH shares. Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a report on Sunday, April 26th. Wells Fargo & Company increased their price objective on shares of Match Group from $30.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group reissued a “buy” rating and set a $43.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. Citigroup raised their price objective on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley increased their target price on Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Match Group presently has a consensus rating of “Hold” and an average target price of $41.07.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.