Jamieson Wellness (TSE:JWEL) Hits New 52-Week High Following Dividend Announcement

Key Points

• Jamieson Wellness shares reached a new 52-week high of C$45.88 after the company announced a quarterly dividend of $0.25 per share, up from $0.23. The dividend implies a 2.2% yield and a 50.27% payout ratio.
• Analyst sentiment is mostly cautious, with one Buy rating and four Hold ratings. The consensus rating is Hold, with an average price target of C$46.54.
• For the latest quarter, Jamieson Wellness reported C$0.46 in earnings per share and C$233.84 million in revenue, along with an 8.92% net margin and 15.93% return on equity.

Shares of Jamieson Wellness Inc. (TSE:JWEL - Get Free Report) reached a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as C$45.88 and last traded at C$45.71, with a volume of 694386 shares changing hands. The stock had previously closed at C$45.55.The newly announced dividend which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. This is a boost from Jamieson Wellness's previous quarterly dividend of $0.23. Jamieson Wellness's dividend payout ratio is 50.27%.

Wall Street Analyst Weigh In

JWEL has been the topic of a number of recent research reports. Canaccord Genuity Group cut Jamieson Wellness from a "buy" rating to a "hold" rating and lifted their target price for the stock from C$44.50 to C$45.75 in a report on Monday, August 10th. Royal Bank Of Canada lowered Jamieson Wellness from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from C$46.00 to C$45.75 in a research report on Monday, August 10th. National Bank Financial cut Jamieson Wellness from an "outperform" rating to a "tender" rating and dropped their price target for the stock from C$51.00 to C$45.75 in a research note on Monday. Stifel Nicolaus downgraded Jamieson Wellness from a "buy" rating to a "hold" rating and boosted their price objective for the stock from C$45.00 to C$45.75 in a report on Friday, August 7th. Finally, TD cut shares of Jamieson Wellness from a "buy" rating to a "hold" rating and raised their target price for the stock from C$48.00 to C$49.00 in a report on Monday, August 10th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of C$46.54.

Jamieson Wellness Stock Performance

The stock has a market capitalization of C$1.90 billion, a PE ratio of 24.98 and a beta of 1.48. The company has a debt-to-equity ratio of 93.69, a quick ratio of 1.08 and a current ratio of 3.41. The firm has a 50 day moving average of C$42.55 and a 200-day moving average of C$37.82.

Jamieson Wellness (TSE:JWEL - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C$0.46 earnings per share for the quarter. Jamieson Wellness had a return on equity of 15.93% and a net margin of 8.92%.The company had revenue of C$233.84 million for the quarter. Research analysts forecast that Jamieson Wellness Inc. will post 2.1438892 earnings per share for the current year.

About Jamieson Wellness

Jamieson Wellness Inc is engaged in the manufacturing, distributing, and marketing of branded natural health products, including vitamins, minerals, and supplements. The company operates in two segments: The Jamieson brands and The Strategic Partners. The majority of its revenue comes from the Jamieson brand segment. Some of its brands are Jamieson, Progressive, Precision, and Iron Vegan. Geographically, most of its revenue is derived from the domestic market.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source