Opera Limited (NASDAQ:OPRA) Plans Semi-annual Dividend of $0.40

Opera Limited (NASDAQ:OPRA - Get Free Report) declared a semi-annual dividend on Wednesday, June 11th, Wall Street Journal reports. Stockholders of record on Tuesday, July 8th will be paid a dividend of 0.40 per share on Tuesday, July 15th. This represents a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, July 8th.

Opera has a payout ratio of 63.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Opera to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 78.4%.

Opera Stock Performance

Shares of OPRA traded down $0.56 during trading hours on Friday, reaching $18.43. 323,766 shares of the company's stock traded hands, compared to its average volume of 512,964. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 9.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. Opera has a twelve month low of $10.11 and a twelve month high of $22.50. The business's fifty day simple moving average is $17.01 and its two-hundred day simple moving average is $17.99.

Opera (NASDAQ:OPRA - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. The company had revenue of $142.72 million for the quarter, compared to analyst estimates of $132.48 million. Opera had a return on equity of 19.22% and a net margin of 39.22%. During the same period last year, the company earned $0.34 earnings per share. Analysts predict that Opera will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Opera

An institutional investor recently bought a new position in Opera stock. Caxton Associates LLP purchased a new stake in Opera Limited (NASDAQ:OPRA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,915 shares of the company's stock, valued at approximately $270,000. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OPRA shares. The Goldman Sachs Group decreased their target price on Opera from $26.00 to $22.50 and set a "buy" rating for the company in a research note on Monday, April 14th. Lake Street Capital raised their target price on Opera from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen raised Opera from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $24.90.

Opera Company Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.