Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Announces $2.60 Special Dividend

Key Points

• $2.60 special dividend announced — shareholders of record on April 16 will be paid on April 29, with the ex-dividend date on April 16.
• The dividend appears sustainable: Futu's current payout ratio is 31%, and analysts forecast $6.45 EPS next year, implying an expected payout ratio of about 39.5%.
• Analysts' consensus is a Buy with an average price target of $210.57; the company reported strong recent results (quarterly EPS $3.07, revenue $771M, ROE 32.2%, net margin 49.6%).

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) announced a special dividend on Thursday, April 2nd. Shareholders of record on Thursday, April 16th will be paid a dividend of 2.60 per share on Wednesday, April 29th. The ex-dividend date is Thursday, April 16th.

Futu has a dividend payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Futu to earn $6.45 per share next year, which means the company should continue to be able to cover its $2.55 annual dividend with an expected future payout ratio of 39.5%.

Futu Stock Up 1.2%

Shares of NASDAQ:FUTU opened at $156.41 on Tuesday. The business has a fifty day moving average of $146.85 and a two-hundred day moving average of $162.90. The stock has a market cap of $21.76 billion, a P/E ratio of 15.21, a PEG ratio of 0.88 and a beta of 0.42. Futu has a 52-week low of $77.65 and a 52-week high of $202.53.

Futu (NASDAQ:FUTU - Get Free Report) last issued its earnings results on Sunday, February 15th. The company reported $3.07 earnings per share (EPS) for the quarter. The company had revenue of $771.00 million during the quarter. Futu had a return on equity of 32.24% and a net margin of 49.63%. On average, equities analysts anticipate that Futu will post 4.94 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays lowered their price target on Futu from $236.00 to $200.00 and set an "overweight" rating for the company in a report on Monday, March 16th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Futu in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group upgraded Futu from a "neutral" rating to a "buy" rating and set a $213.39 price target for the company in a report on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $210.57.

Futu Company Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm's product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.

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