Patria Investments Limited (NYSE:PAX) Plans $0.15 Quarterly Dividend

Patria Investments Limited (NYSE:PAX) announced a quarterly dividend on Wednesday, October 30th,Wall Street Journal reports. Shareholders of record on Monday, November 18th will be given a dividend of 0.15 per share on Monday, December 9th. This represents a $0.60 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Monday, November 18th.

Patria Investments has a dividend payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Patria Investments to earn $1.51 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 39.7%.

Patria Investments Trading Down 2.4 %

NYSE PAX opened at $11.92 on Friday. The stock has a 50-day moving average of $11.46 and a 200-day moving average of $12.07. The firm has a market cap of $712.46 million, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.50 and a beta of 0.57. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.31. Patria Investments has a 1-year low of $10.63 and a 1-year high of $16.16.

Patria Investments (NYSE:PAX) last issued its earnings results on Tuesday, November 5th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The business had revenue of $78.10 million for the quarter, compared to analysts’ expectations of $76.55 million. Patria Investments had a net margin of 19.68% and a return on equity of 34.00%. During the same quarter in the prior year, the business posted $0.23 earnings per share. As a group, sell-side analysts forecast that Patria Investments will post 1.05 EPS for the current year.

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut their price objective on Patria Investments from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd.

About Patria Investments

Patria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds.