Organon & Co. (NYSE:OGN) Declares $0.28 Quarterly Dividend

Organon & Co. (NYSE:OGN) declared a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.28 per share on Thursday, December 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.98%. The ex-dividend date of this dividend is Tuesday, November 12th.

Organon & Co. has a payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Organon & Co. to earn $4.12 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 27.2%.

Organon & Co. Stock Down 0.5 %

Shares of NYSE:OGN opened at $16.04 on Friday. The firm has a market cap of $4.13 billion, a PE ratio of 3.18, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84. The company has a fifty day simple moving average of $18.76 and a 200 day simple moving average of $20.05. The company has a current ratio of 1.70, a quick ratio of 1.17 and a debt-to-equity ratio of 17.73. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $23.10.

Organon & Co. (NYSE:OGN) last posted its earnings results on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the company posted $0.78 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Organon & Co. will post 3.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OGN shares. JPMorgan Chase & Co. cut Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $18.00 to $20.00 in a research report on Friday, September 6th. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th.

About Organon & Co.

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.