IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) Hits New 1-Year High After Dividend Announcement

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS)’s share price hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $16.21 and last traded at $16.13, with a volume of 72080 shares trading hands. The stock had previously closed at $15.83.

The newly announced dividend which will be paid on Monday, December 9th. Shareholders of record on Friday, November 29th will be paid a dividend of $3.60 per share. This is a boost from IRSA Inversiones y Representaciones Sociedad Anónima’s previous — dividend of $1.02. The ex-dividend date of this dividend is Friday, November 29th. IRSA Inversiones y Representaciones Sociedad Anónima’s payout ratio is presently -13.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IRS. StockNews.com cut IRSA Inversiones y Representaciones Sociedad Anónima from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Jefferies Financial Group upgraded IRSA Inversiones y Representaciones Sociedad Anónima from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.50 to $13.00 in a research report on Wednesday, August 14th.

IRSA Inversiones y Representaciones Sociedad Anónima Price Performance

The stock’s 50-day moving average is $12.78 and its two-hundred day moving average is $10.95. The company has a market capitalization of $1.22 billion, a PE ratio of -3.52 and a beta of 1.28. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.16.

IRSA Inversiones y Representaciones Sociedad Anónima (NYSE:IRS) last issued its quarterly earnings results on Tuesday, September 3rd. The financial services provider reported $1.31 earnings per share (EPS) for the quarter. IRSA Inversiones y Representaciones Sociedad Anónima had a positive return on equity of 8.24% and a negative net margin of 79.31%. The firm had revenue of $129.87 million during the quarter.

Institutional Investors Weigh In On IRSA Inversiones y Representaciones Sociedad Anónima

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRS. Systrade AG bought a new stake in IRSA Inversiones y Representaciones Sociedad Anónima during the 3rd quarter valued at $1,138,000. BNP Paribas Financial Markets increased its stake in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 14.0% during the third quarter. BNP Paribas Financial Markets now owns 98,416 shares of the financial services provider’s stock valued at $1,120,000 after buying an additional 12,071 shares during the period. Secure Asset Management LLC raised its holdings in shares of IRSA Inversiones y Representaciones Sociedad Anónima by 12.6% in the third quarter. Secure Asset Management LLC now owns 96,927 shares of the financial services provider’s stock valued at $1,103,000 after acquiring an additional 10,824 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in IRSA Inversiones y Representaciones Sociedad Anónima in the third quarter worth about $877,000. Finally, Sanctuary Advisors LLC bought a new position in IRSA Inversiones y Representaciones Sociedad Anónima during the 2nd quarter worth about $473,000. Institutional investors own 45.46% of the company’s stock.

About IRSA Inversiones y Representaciones Sociedad Anónima

IRSA Inversiones y Representaciones Sociedad Anónima, together with its subsidiaries, engages in the diversified real estate activities in Argentina. It operates through five segments: Shopping Malls, Offices, Hotels, Sales and Developments, and Others. The company is involved in the acquisition, development, and operation of shopping malls, office buildings, and other non-shopping mall properties primarily for rental purposes.