JOYY Inc. (NASDAQ:YY) to Issue $0.51 Quarterly Dividend

Posted by on Jun 2nd, 2022

JOYY Inc. (NASDAQ:YY – Get Rating) declared a quarterly dividend on Wednesday, June 1st, Zacks reports. Investors of record on Thursday, June 23rd will be given a dividend of 0.51 per share by the information services provider on Wednesday, July 6th. This represents a $2.04 dividend on an annualized basis and a yield of 5.81%. The ex-dividend date of this dividend is Wednesday, June 22nd.

NASDAQ:YY opened at $35.09 on Thursday. The stock’s 50 day moving average price is $38.92 and its 200 day moving average price is $44.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.02 and a current ratio of 2.02. JOYY has a 52-week low of $23.14 and a 52-week high of $77.08.

JOYY (NASDAQ:YY – Get Rating) last released its quarterly earnings results on Tuesday, May 31st. The information services provider reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.68). JOYY had a positive return on equity of 2.60% and a negative net margin of 2.24%. During the same period in the previous year, the company posted ($0.30) EPS. As a group, equities research analysts predict that JOYY will post 1.23 EPS for the current year.

Several analysts have recently commented on YY shares. StockNews.com started coverage on JOYY in a report on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised JOYY from an “underweight” rating to a “neutral” rating and set a $40.00 price target for the company in a report on Monday, May 16th. Zacks Investment Research cut JOYY from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 19th. Benchmark reduced their price objective on JOYY from $97.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, March 16th. Finally, Morgan Stanley cut JOYY from an “overweight” rating to an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $86.75.

Several large investors have recently added to or reduced their stakes in YY. Prudential Financial Inc. acquired a new stake in JOYY during the first quarter valued at approximately $275,000. Verition Fund Management LLC acquired a new stake in JOYY in the first quarter worth approximately $336,000. American Century Companies Inc. lifted its position in JOYY by 11.4% in the first quarter. American Century Companies Inc. now owns 10,078 shares of the information services provider’s stock worth $370,000 after purchasing an additional 1,031 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of JOYY during the 4th quarter valued at $400,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of JOYY by 34.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,302 shares of the information services provider’s stock valued at $452,000 after acquiring an additional 3,164 shares during the last quarter. Institutional investors and hedge funds own 78.48% of the company’s stock.

About JOYY (Get Rating)

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc..

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Dividend History for JOYY (NASDAQ:YY)

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