DineEquity, Inc (DIN) to Issue $0.97 Quarterly Dividend
DineEquity, Inc (NYSE:DIN) declared a quarterly dividend on Friday, October 6th, Wall Street Journal reports. Stockholders of record on Monday, December 18th will be paid a dividend of 0.97 per share by the restaurant operator on Friday, January 12th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.61%. The ex-dividend date of this dividend is Friday, December 15th.
DineEquity has increased its dividend payment by an average of 7.0% annually over the last three years and has increased its dividend every year for the last 2 years. DineEquity has a dividend payout ratio of 89.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect DineEquity to earn $4.45 per share next year, which means the company should continue to be able to cover its $3.88 annual dividend with an expected future payout ratio of 87.2%.
Shares of DineEquity (NYSE DIN) traded up 4.02% on Friday, hitting $45.04. The stock had a trading volume of 589,255 shares. The company has a market capitalization of $810.63 million, a P/E ratio of 10.04 and a beta of 0.40. The firm has a 50 day moving average price of $40.78 and a 200 day moving average price of $45.78. DineEquity has a one year low of $36.71 and a one year high of $88.00.
DineEquity (NYSE:DIN) last announced its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.10. The company had revenue of $155.20 million during the quarter, compared to analysts’ expectations of $155.33 million. DineEquity had a return on equity of 38.34% and a net margin of 13.02%. DineEquity’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 EPS. On average, equities research analysts predict that DineEquity will post $4.38 earnings per share for the current fiscal year.
In related news, Director Msd Capital L. P acquired 39,689 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was purchased at an average cost of $39.23 per share, for a total transaction of $1,556,999.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.15% of the company’s stock.
DIN has been the subject of several analyst reports. Maxim Group decreased their price objective on DineEquity from $77.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, August 8th. Zacks Investment Research upgraded DineEquity from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Monday, July 24th. ValuEngine cut DineEquity from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Raymond James Financial, Inc. restated a “market perform” rating on shares of DineEquity in a report on Monday, July 24th. Finally, BidaskClub upgraded DineEquity from a “strong sell” rating to a “sell” rating in a report on Saturday, August 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. DineEquity currently has a consensus rating of “Hold” and a consensus price target of $56.47.
DineEquity, Inc, through its subsidiaries, owns and franchises the Applebee’s Neighborhood Grill & Bar (Applebee’s) concept in the bar and grill segment within the casual dining category of the restaurant industry, and owns, franchises and operates the International House of Pancakes (IHOP) concept in the family dining category of the restaurant industry.
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