Karooooo Ltd. (KARO) To Go Ex-Dividend on August 8th

Karooooo Ltd. (NASDAQ:KARO) declared a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors of record on Thursday, August 8th will be paid a dividend of 1.08 per share on Wednesday, August 14th. This represents a $4.32 dividend on an annualized basis and a yield of 12.04%. The ex-dividend date is Thursday, August 8th. This is a positive change from Karooooo’s previous quarterly dividend of $0.85.

Karooooo has a payout ratio of 242.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Karooooo to earn $1.77 per share next year, which means the company may not be able to cover its $4.32 annual dividend with an expected future payout ratio of 244.1%.

Karooooo Trading Up 1.4 %

Shares of NASDAQ KARO traded up $0.49 during midday trading on Tuesday, hitting $35.88. The stock had a trading volume of 5,521 shares, compared to its average volume of 11,719. The company has a fifty day moving average price of $32.22 and a 200 day moving average price of $28.36. The company has a market capitalization of $767.11 million, a price-to-earnings ratio of 27.72 and a beta of 1.01. Karooooo has a 1-year low of $18.59 and a 1-year high of $40.87. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.05.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings results on Wednesday, May 15th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Karooooo had a net margin of 18.70% and a return on equity of 27.88%. The firm had revenue of $57.64 million for the quarter, compared to analysts’ expectations of $55.54 million. On average, analysts predict that Karooooo will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised their price objective on Karooooo from $31.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th.

Karooooo Company Profile

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.