Infosys Limited (INFY) To Go Ex-Dividend on October 29th

Infosys Limited (NYSE:INFY) declared a semi-annual dividend on Monday, October 21st, Wall Street Journal reports. Shareholders of record on Friday, January 1st will be paid a dividend of 0.2126 per share by the technology company on Tuesday, October 29th. This represents a yield of 1.1%. The ex-dividend date is Tuesday, October 29th. This is a boost from Infosys’s previous semi-annual dividend of $0.20.

Infosys has raised its dividend by an average of 14.3% per year over the last three years. Infosys has a payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Infosys to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 42.0%.

Infosys Trading Down 0.2 %

Shares of INFY stock opened at $22.16 on Wednesday. The company has a market cap of $91.74 billion, a PE ratio of 29.16, a P/E/G ratio of 3.68 and a beta of 0.99. The company’s fifty day simple moving average is $22.70 and its 200-day simple moving average is $20.06. Infosys has a 52 week low of $16.04 and a 52 week high of $23.48.

Infosys (NYSE:INFY) last issued its earnings results on Thursday, October 17th. The technology company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Infosys had a return on equity of 32.01% and a net margin of 17.18%. During the same quarter in the prior year, the business earned $0.18 earnings per share. Equities research analysts expect that Infosys will post 0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. StockNews.com downgraded Infosys from a “buy” rating to a “hold” rating in a research note on Monday. Investec downgraded shares of Infosys from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. BMO Capital Markets lifted their price target on shares of Infosys from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Macquarie upgraded shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Erste Group Bank raised shares of Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.85.

Infosys Company Profile

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.