Medifast Inc Plans Quarterly Dividend of $0.32 (MED)
Medifast Inc (NYSE:MED) declared a quarterly dividend on Thursday, September 7th, RTT News reports. Investors of record on Friday, September 22nd will be paid a dividend of 0.32 per share by the specialty retailer on Thursday, November 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.31%.
Medifast has a dividend payout ratio of 60.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Medifast to earn $2.49 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 51.4%.
Shares of Medifast (NYSE:MED) traded up 0.58% during trading on Thursday, hitting $55.51. 135,787 shares of the company were exchanged. Medifast has a 12 month low of $35.55 and a 12 month high of $56.70. The company’s 50-day moving average price is $49.15 and its 200 day moving average price is $44.81. The stock has a market cap of $662.23 million, a P/E ratio of 27.89 and a beta of 0.43.
Medifast (NYSE:MED) last released its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. Medifast had a net margin of 8.62% and a return on equity of 24.25%. The company had revenue of $75.70 million for the quarter, compared to the consensus estimate of $71.96 million. During the same period in the previous year, the firm earned $0.63 EPS. Medifast’s revenue was up 6.5% on a year-over-year basis. On average, equities analysts predict that Medifast will post $2.12 earnings per share for the current fiscal year.
MED has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Medifast from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. DA Davidson initiated coverage on shares of Medifast in a research report on Wednesday, August 16th. They set a “buy” rating on the stock.
Medifast, Inc is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and nutritional products. Medifast product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products and vitamins.
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