Leonardo (OTCMKTS:FINMY) Shares Gap Down - Here's Why

Key Points

• Leonardo S.P.A. shares gapped down from a previous close of $28.77 to open at $26.20 and last traded at $25.96, reflecting a trading volume of 25,465 shares.
• Despite the drop, analysts maintain a positive outlook with ratings including one Strong Buy, two Buy, and two Hold, resulting in an average rating of "Moderate Buy."
• The company recently increased its dividend to $0.1604 per share, representing a substantial yield of 58.0%, up from the previous dividend of $0.05.

Shares of Leonardo S.P.A. - Unsponsored ADR (OTCMKTS:FINMY - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $28.77, but opened at $26.20. Leonardo shares last traded at $25.96, with a volume of 25,465 shares changing hands.

Analyst Ratings Changes

Several research firms recently issued reports on FINMY. Kepler Capital Markets raised shares of Leonardo from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 31st. Jefferies Financial Group reaffirmed a "buy" rating on shares of Leonardo in a research note on Friday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy".

Leonardo Trading Down 10.5%

The firm's fifty day moving average price is $27.50 and its 200-day moving average price is $25.38. The company has a current ratio of 0.96, a quick ratio of 0.61 and a debt-to-equity ratio of 0.23.

Leonardo Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 25th were issued a dividend of $0.1604 per share. This represents a dividend yield of 58.0%. The ex-dividend date was Tuesday, June 24th. This is a positive change from Leonardo's previous dividend of $0.05.

About Leonardo

Leonardo S.p.a., an industrial and technological company, engages in the helicopters, defense electronics and security, aircraft, aerostructures, and space sectors in Italy, the United Kingdom, rest of Europe, the United States, and internationally. The company offers a range of helicopters for battlefield, combat, maritime, training, VIP/executive transport, medical and rescue, security, energy, and utility services, as well as provides support and training services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.