Cameco Co. (NYSE:CCJ) Increases Dividend to $0.12 Per Share

Cameco Co. (NYSE:CCJ) (TSE:CCO) declared an annual dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Wednesday, November 27th will be paid a dividend of 0.118 per share by the basic materials company on Friday, December 13th. This represents a dividend yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09.

Cameco has increased its dividend by an average of 14.5% per year over the last three years. Cameco has a payout ratio of 8.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cameco to earn $1.62 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 6.8%.

Cameco Price Performance

Shares of NYSE:CCJ opened at $58.10 on Tuesday. The business has a 50-day simple moving average of $52.01 and a two-hundred day simple moving average of $48.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The firm has a market cap of $25.28 billion, a price-to-earnings ratio of 305.78 and a beta of 0.89. Cameco has a fifty-two week low of $35.43 and a fifty-two week high of $60.98.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The company had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. On average, analysts expect that Cameco will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

CCJ has been the subject of a number of recent research reports. Glj Research restated a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Scotiabank decreased their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.