Eldorado Gold Corporation (NYSE:EGO) Announces Quarterly Dividend of $0.08

Key Points

• Eldorado announced a quarterly dividend of $0.075 per share, payable June 16 to shareholders of record on June 2, equal to a $0.30 annualized payout and about a 1.0% yield.
• The company beat estimates with Q‑quarter EPS of $0.95 (vs. $0.69 est.) and revenue of $532.4M, yet shares fell about 4% to $29.86 on higher volume.
• Analyst sentiment is mixed—MarketBeat shows an average rating of Hold with a $42 consensus target—while the stock trades at a PE of 12.06 and a market cap near $5.93 billion.

Eldorado Gold Corporation (NYSE:EGO - Get Free Report) TSE: ELD announced a quarterly dividend on Thursday, April 30th. Stockholders of record on Tuesday, June 2nd will be given a dividend of 0.075 per share by the basic materials company on Tuesday, June 16th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 2nd.

Eldorado Gold has a dividend payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Eldorado Gold to earn $6.91 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 4.3%.

Eldorado Gold Stock Down 4.0%

Shares of NYSE EGO traded down $1.23 during midday trading on Friday, hitting $29.86. 3,752,571 shares of the company's stock were exchanged, compared to its average volume of 2,900,462. The firm's fifty day simple moving average is $36.62 and its 200-day simple moving average is $35.48. The company has a market cap of $5.93 billion, a PE ratio of 12.06, a P/E/G ratio of 0.14 and a beta of 0.66. Eldorado Gold has a twelve month low of $17.18 and a twelve month high of $51.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.83 and a quick ratio of 1.46.

Eldorado Gold (NYSE:EGO - Get Free Report) TSE: ELD last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.26. The company had revenue of $532.43 million for the quarter, compared to analyst estimates of $504.54 million. Eldorado Gold had a return on equity of 8.63% and a net margin of 27.89%. Research analysts predict that Eldorado Gold will post 4.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. National Bank Financial raised Eldorado Gold to a "strong-buy" rating in a report on Wednesday, April 15th. Zacks Research cut Eldorado Gold from a "hold" rating to a "strong sell" rating in a research report on Wednesday. BMO Capital Markets reaffirmed an "outperform" rating on shares of Eldorado Gold in a report on Wednesday, April 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Eldorado Gold in a report on Monday, April 20th. Finally, Royal Bank Of Canada downgraded Eldorado Gold from an "outperform" rating to a "sector perform" rating and set a $48.00 price objective for the company. in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $42.00.

Eldorado Gold Company Profile

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company's core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.