Amdocs Limited (NASDAQ:DOX) declared a quarterly dividend on Tuesday, May 14th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.285 per share by the technology company on Friday, July 19th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Thursday, June 27th.
Amdocs has raised its dividend by an average of 13.4% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Amdocs has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Amdocs to earn $4.25 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 26.8%.
Shares of NASDAQ:DOX traded down $0.05 during midday trading on Tuesday, reaching $62.23. 14,331 shares of the company’s stock traded hands, compared to its average volume of 705,669. The company has a market capitalization of $8.68 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 1.83 and a beta of 0.39. Amdocs has a one year low of $52.60 and a one year high of $69.16. The stock’s 50 day moving average price is $59.71.
Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, May 14th. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. Amdocs had a return on equity of 15.18% and a net margin of 8.96%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts forecast that Amdocs will post 4.01 EPS for the current fiscal year.
A number of research analysts have weighed in on DOX shares. JPMorgan Chase & Co. lowered their target price on Amdocs from $70.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, May 15th. BidaskClub raised Amdocs from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 1st. TheStreet raised Amdocs from a “c+” rating to a “b-” rating in a report on Tuesday, June 4th. ValuEngine upgraded Amdocs from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Finally, Zacks Investment Research upgraded Amdocs from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Friday, May 17th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Amdocs presently has a consensus rating of “Hold” and a consensus price target of $71.40.
Amdocs Company Profile
Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.
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