Richardson Electronics, Ltd. (RELL) To Go Ex-Dividend on November 6th

Richardson Electronics, Ltd. (NASDAQ:RELL) announced a quarterly dividend on Tuesday, October 6th. Stockholders of record on Friday, November 6th will be paid a dividend of $0.06 per share by the technology company on Wednesday, November 25th. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 6th.

Richardson Electronics has a payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Richardson Electronics to earn $0.94 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 25.5%.

Richardson Electronics Price Performance

RELL opened at $20.67 on Wednesday. The firm has a fifty day moving average price of $18.28 and a 200 day moving average price of $15.85. The stock has a market cap of $307.57 million, a P/E ratio of 36.11, a P/E/G ratio of 1.00 and a beta of 1.28. Richardson Electronics has a 1 year low of $9.37 and a 1 year high of $23.15.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Wednesday, October 7th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.09 by $0.18. Richardson Electronics had a net margin of 3.57% and a return on equity of 4.82%. The firm had revenue of $64.92 million for the quarter, compared to analyst estimates of $58.98 million. Equities analysts expect that Richardson Electronics will post 0.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RELL. Wall Street Zen raised shares of Richardson Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Richardson Electronics from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 27th. Finally, Northland Securities set a $26.00 price target on Richardson Electronics in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, Richardson Electronics has an average rating of “Buy” and an average target price of $26.00.

About Richardson Electronics

Richardson Electronics Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, electronic components and replacement parts for specialized industrial and healthcare applications. The company serves original equipment manufacturers, government agencies, medical facilities, distributors and other commercial customers through its product portfolio and technical support services.

Its Power and Microwave Technologies business supplies components and systems used in power conversion, renewable energy, semiconductor manufacturing, aerospace and defense, telecommunications, and other industrial markets.