Daktronics, Inc. (NASDAQ:DAKT) declared a quarterly dividend on Thursday, November 29th, RTT News reports. Shareholders of record on Monday, December 10th will be paid a dividend of 0.07 per share by the technology company on Thursday, December 20th. This represents a $0.28 dividend on an annualized basis and a yield of 3.12%.
Daktronics has decreased its dividend by an average of 1.2% annually over the last three years. Daktronics has a dividend payout ratio of 77.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.
NASDAQ DAKT traded down $0.05 during trading on Friday, reaching $8.98. 2,895 shares of the company’s stock were exchanged, compared to its average volume of 148,927. The company has a market cap of $404.64 million, a PE ratio of 56.38 and a beta of 1.01. The company has a quick ratio of 1.49, a current ratio of 1.99 and a debt-to-equity ratio of 0.08. Daktronics has a fifty-two week low of $7.14 and a fifty-two week high of $10.11.
Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, November 21st. The technology company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Daktronics had a return on equity of 3.71% and a net margin of 0.53%. The company had revenue of $172.70 million for the quarter, compared to the consensus estimate of $170.01 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis.
In other Daktronics news, Chairman Reece A. Kurtenbach sold 10,500 shares of the company’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $8.66, for a total transaction of $90,930.00. Following the completion of the sale, the chairman now directly owns 295,607 shares in the company, valued at $2,559,956.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sheila Mae Anderson sold 3,500 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $8.94, for a total value of $31,290.00. Following the sale, the chief financial officer now owns 17,971 shares of the company’s stock, valued at $160,660.74. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.
Several equities analysts have recently commented on DAKT shares. BidaskClub downgraded Daktronics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Singular Research cut their price target on Daktronics from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, September 21st. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Daktronics currently has an average rating of “Buy” and a consensus target price of $10.00.
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Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.
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