Logitech International S.A. (NASDAQ:LOGI) to Issue Dividend Increase – $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 given 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 of this dividend is Tuesday, September 24th. This is a positive change from Logitech International’s previous annual dividend of $1.19.

Logitech International has increased its dividend by an average of 10.1% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Logitech International has a dividend payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 0.2 %

Shares of NASDAQ LOGI opened at $86.80 on Friday. The company 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 twelve month low of $65.31 and a twelve month high of $102.59. The firm has a fifty day simple moving average of $88.35 and a 200 day simple moving average of $89.90.

Logitech International (NASDAQ:LOGI) last posted its quarterly earnings data on Monday, July 22nd. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.20. Logitech International had a return on equity of 30.51% and a net margin of 15.67%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. As a group, equities analysts expect that Logitech International will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LOGI has been the topic of several recent analyst reports. StockNews.com lowered Logitech International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. Barclays boosted their target price on shares of Logitech International from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wedbush restated a “neutral” rating and issued a $88.00 price target on shares of Logitech International in a report on Tuesday, July 16th. Finally, Loop Capital increased their price objective on shares of Logitech International from $87.00 to $88.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.