Medifast Inc (NYSE:MED) to Issue $0.75 — Dividend

Medifast Inc (NYSE:MED) declared a — dividend on Friday, September 13th, Wall Street Journal reports. Investors of record on Friday, September 27th will be paid a dividend of 0.75 per share by the specialty retailer on Thursday, November 7th. This represents a yield of 2.8%. The ex-dividend date is Thursday, September 26th.

Medifast has a payout ratio of 66.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Medifast to earn $8.59 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 34.9%.

NYSE MED traded up $1.03 during trading on Friday, reaching $106.05. 565,925 shares of the stock traded hands, compared to its average volume of 276,788. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 22.95 and a beta of 0.70. The stock’s 50-day moving average price is $104.27 and its 200 day moving average price is $126.10. Medifast has a fifty-two week low of $96.40 and a fifty-two week high of $253.90.

Medifast (NYSE:MED) last issued its quarterly earnings data on Thursday, August 1st. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.04. The firm had revenue of $187.10 million during the quarter, compared to analysts’ expectations of $181.74 million. Medifast had a net margin of 11.22% and a return on equity of 61.06%. The business’s revenue for the quarter was up 59.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 earnings per share. As a group, equities analysts anticipate that Medifast will post 6.86 EPS for the current fiscal year.

A number of research analysts recently issued reports on MED shares. Jefferies Financial Group started coverage on shares of Medifast in a report on Thursday, July 25th. They set a “buy” rating and a $130.00 price objective for the company. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a report on Tuesday, August 6th. Finally, ValuEngine cut shares of Medifast from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th.

About Medifast

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.

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Dividend History for Medifast (NYSE:MED)

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