MAXIMUS, Inc. (NYSE:MMS) announced a quarterly dividend on Thursday, October 10th, Zacks reports. Investors of record on Friday, November 15th will be given a dividend of 0.28 per share by the health services provider on Friday, November 29th. This represents a $1.12 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Thursday, November 14th. This is an increase from MAXIMUS’s previous quarterly dividend of $0.25.
MAXIMUS has increased its dividend by an average of 28.8% per year over the last three years. MAXIMUS has a payout ratio of 30.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect MAXIMUS to earn $4.09 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 24.4%.
MMS opened at $74.54 on Friday. The firm has a 50 day moving average price of $77.41 and a 200 day moving average price of $74.16. The company has a market cap of $4.76 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87. MAXIMUS has a 1 year low of $60.00 and a 1 year high of $82.02.
MAXIMUS (NYSE:MMS) last posted its earnings results on Thursday, August 8th. The health services provider reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.04. The firm had revenue of $730.70 million during the quarter, compared to the consensus estimate of $754.81 million. MAXIMUS had a net margin of 8.44% and a return on equity of 20.72%. The company’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. On average, analysts expect that MAXIMUS will post 3.73 EPS for the current year.
In other news, Vice Chairman Richard A. Montoni sold 11,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $80.40, for a total transaction of $884,400.00. Following the completion of the transaction, the insider now directly owns 337,874 shares in the company, valued at approximately $27,165,069.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel David Francis sold 6,496 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $77.43, for a total value of $502,985.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,496 shares of company stock valued at $4,398,575. 2.20% of the stock is owned by company insiders.
MMS has been the subject of a number of research analyst reports. ValuEngine downgraded shares of MAXIMUS from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Wells Fargo & Co restated a “market perform” rating and issued a $83.00 price target on shares of MAXIMUS in a report on Friday, August 9th. Finally, Canaccord Genuity upped their price target on MAXIMUS from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, August 13th.
MAXIMUS Company Profile
MAXIMUS, Inc provides business process services (BPS) to government health and human services programs worldwide. The company's Health Services segment offers various BPS, appeals, and assessments for state, provincial, and national government programs, including Medicaid, Children's Health Insurance Program, Affordable Care Act, Health Insurance British Columbia, Health Assessment Advisory Service contract, and Preadmission Screening and Resident Reviews.
Featured Article: Do back-end load funds outperform no-load funds?
Receive News & Ratings for MAXIMUS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MAXIMUS and related companies with MarketBeat.com's FREE daily email newsletter.