Jerash holdings said on May 23, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Previously, the company paid $0.05 per share.
Shares must be purchased before the ex-div date of June 1, 2023 to qualify for the dividend. Shareholders of record as of June 2, 2023 will receive the payment on June 9, 2023.
At the current share price of $4.41 / share, the stock's dividend yield is 4.54%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.45%, the lowest has been 2.22%, and the highest has been 5.03%. The standard deviation of yields is 0.68 (n=236).
The current dividend yield is 1.59 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.58. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 31 funds or institutions reporting positions in Jerash holdings. This is a decrease of 2 owner(s) or 6.06% in the last quarter. Average portfolio weight of all funds dedicated to JRSH is 0.03%, an increase of 64.60%. Total shares owned by institutions increased in the last three months by 42.40% to 608K shares.
Analyst Price Forecast Suggests 73.47% Upside
As of May 11, 2023, the average one-year price target for Jerash holdings is 7.65. The forecasts range from a low of 7.07 to a high of $8.40. The average price target represents an increase of 73.47% from its latest reported closing price of 4.41.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Jerash holdings is 158MM, an increase of 9.11%. The projected annual non-GAAP EPS is 0.80.
What are Other Shareholders Doing?
180 Degree Capital holds 136K shares representing 1.10% ownership of the company.
Renaissance Technologies holds 84K shares representing 0.68% ownership of the company. In it's prior filing, the firm reported owning 99K shares, representing a decrease of 18.32%. The firm decreased its portfolio allocation in JRSH by 1.00% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 81K shares representing 0.65% ownership of the company. In it's prior filing, the firm reported owning 77K shares, representing an increase of 4.13%. The firm decreased its portfolio allocation in JRSH by 11.85% over the last quarter.
Stifel Financial holds 55K shares representing 0.45% ownership of the company.
Acadian Asset Management holds 37K shares representing 0.30% ownership of the company. In it's prior filing, the firm reported owning 43K shares, representing a decrease of 14.71%. The firm decreased its portfolio allocation in JRSH by 6.12% over the last quarter.
Jerash holdings Background Information
(This description is provided by the company.)
Jerash Holdings (US), Inc. is a manufacturer utilized by many well-known brands and retailers, such as Walmart, Costco, New Balance, G-III, American Eagle, and VF Corporation (which owns brands such as The North Face, Timberland, JanSport, etc.). Its production facilities comprise four factory units, one workshop, and three warehouses and it currently employs approximately 4,200 people. The total annual capacity at its facilities was approximately 12.0 million pieces as of December 31, 2020.
Key filings for this company:
This story originally appeared on Fintel.
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