Dollarama Inc (DOL) Trading Up 3.3% Following Dividend Announcement
Shares of Dollarama Inc (TSE:DOL) were up 3.3% during mid-day trading on Friday after the company announced a dividend. The stock traded as high as C$139.82 and last traded at C$139.21. Approximately 603,958 shares changed hands during trading, an increase of 96% from the average daily volume of 308,921 shares. The stock had previously closed at C$134.72.
The newly announced dividend which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.44 annualized dividend and a dividend yield of 0.32%.
Several research analysts have recently weighed in on DOL shares. Royal Bank Of Canada boosted their price target on shares of Dollarama from C$133.00 to C$138.00 in a research report on Thursday, May 25th. National Bank Financial boosted their price target on shares of Dollarama from C$140.00 to C$145.00 in a research report on Friday. TD Securities boosted their price target on shares of Dollarama from C$125.00 to C$135.00 in a research report on Thursday, June 8th. CIBC boosted their price target on shares of Dollarama from C$125.00 to C$141.00 in a research report on Thursday, June 8th. Finally, Raymond James Financial, Inc. boosted their price target on shares of Dollarama from C$135.00 to C$140.00 in a research report on Thursday, June 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Dollarama currently has an average rating of “Buy” and a consensus price target of C$143.67.
The company’s 50-day moving average price is $123.14 and its 200-day moving average price is $117.86. The company has a market cap of $15.85 billion and a P/E ratio of 36.12.
Dollarama (TSE:DOL) last posted its quarterly earnings results on Wednesday, June 7th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03. The company had revenue of $704.95 million during the quarter, compared to analysts’ expectations of $712.60 million. Dollarama had a return on equity of 559.12% and a net margin of 13.43%. Equities analysts forecast that Dollarama Inc will post $4.37 EPS for the current fiscal year.
In other Dollarama news, Director Nicolas Hien sold 1,750 shares of Dollarama stock in a transaction dated Monday, July 17th. The stock was sold at an average price of C$122.83, for a total value of C$214,952.50.
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Dollarama Inc is a Canada-based holding company. The Company operates dollar stores. It has approximately 1,030 stores in operation in Canada. Its stores have an average area of approximately 9,942 square feet, and offer a range of consumer products, general merchandise and seasonal items, including private label and nationally branded products.
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