Amdocs Limited (NASDAQ:DOX) to Issue $0.53 Quarterly Dividend

Key Points

• Amdocs Limited has declared a quarterly dividend of $0.53 per share, with the payment expected on October 31st to investors on record by September 30th.
• The company reported earnings of $1.72 per share for the last quarter, slightly exceeding analysts' expectations, despite experiencing a revenue decline of 8.4% year-over-year.
• Amdocs' stock increased by 5.1% during trading, reaching $88.87, with a market capitalization of $10.03 billion and a P/E ratio of 18.71.

Amdocs Limited (NASDAQ:DOX - Get Free Report) declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Stockholders of record on Tuesday, September 30th will be given a dividend of 0.527 per share by the technology company on Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 30th.

Amdocs has a dividend payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Amdocs to earn $6.82 per share next year, which means the company should continue to be able to cover its $2.11 annual dividend with an expected future payout ratio of 30.9%.

Amdocs Stock Down 3.3%

Shares of DOX traded down $2.96 during mid-day trading on Monday, reaching $86.45. The company's stock had a trading volume of 1,154,551 shares, compared to its average volume of 788,117. Amdocs has a 12-month low of $78.61 and a 12-month high of $95.41. The stock has a market cap of $9.76 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.64 and a beta of 0.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.16. The company's 50 day moving average is $90.07 and its 200 day moving average is $88.77.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Amdocs had a return on equity of 19.66% and a net margin of 11.94%. The company's revenue was down 8.4% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. Equities analysts anticipate that Amdocs will post 6.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on DOX shares. Wolfe Research started coverage on Amdocs in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research report on Sunday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $105.33.

About Amdocs

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.