Logitech International S.A. (NASDAQ:LOGI) Raises Dividend to $1.37 Per Share

Logitech International S.A. (NASDAQ:LOGI) announced an annual dividend on Wednesday, September 4th, Wall Street Journal reports. Stockholders of record on Tuesday, September 24th will be paid a dividend of 1.3687 per share by the technology company on Wednesday, September 25th. This represents a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 24th. This is a boost from Logitech International’s previous annual dividend of $1.19.

Logitech International has raised its dividend payment by an average of 10.1% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Logitech International has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Logitech International to earn $4.20 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 32.4%.

Logitech International Price Performance

NASDAQ LOGI opened at $86.80 on Monday. The stock has a market capitalization of $13.73 billion, a PE ratio of 22.43, a P/E/G ratio of 2.45 and a beta of 0.79. Logitech International has a 1-year low of $65.31 and a 1-year high of $102.59. The business has a 50 day simple moving average of $88.35 and a two-hundred day simple moving average of $89.91.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.20. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. On average, analysts anticipate that Logitech International will post 3.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com cut shares of Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. Wedbush restated a “neutral” rating and set a $88.00 target price on shares of Logitech International in a research report on Tuesday, July 16th. Barclays increased their price target on Logitech International from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Loop Capital increased their target price on Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $93.14.

Logitech International Company Profile

Logitech International SA, through its subsidiaries, designs, manufactures, and markets software-enabled hardware solutions that connect people to working, creating, gaming, and streaming worldwide. The company offers products for gamers and streamers, including mice, racing wheels, headsets, keyboards, microphones, and streaming services; corded and cordless keyboards and keyboard-and-mouse combinations; pointing devices, such as wireless mice and wireless mouse products; conference room cameras, such as ConferenceCams; controllers for video conferencing room solutions; PC-based webcams, including streaming cameras and VC webcams; tablet accessories that includes keyboards for tablets; PC and VC headsets, in-ear headphones, and premium wireless earbuds; and mobile speakers and PC speakers, as well as portable wireless Bluetooth speakers.