Jamieson Wellness (TSE:JWEL) Hits New 1-Year High After Dividend Announcement

Jamieson Wellness Inc. (TSE:JWEL) hit a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as C$45.88 and last traded at C$45.71, with a volume of 694386 shares. The stock had previously closed at C$45.55.

The newly announced dividend which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Jamieson Wellness’s previous quarterly dividend of $0.23. Jamieson Wellness’s dividend payout ratio (DPR) is presently 50.27%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JWEL. Canadian Imperial Bank of Commerce downgraded Jamieson Wellness from an “outperformer” rating to a “tender” rating and increased their price objective for the stock from C$44.00 to C$45.75 in a report on Friday, August 7th. National Bank Financial downgraded shares of Jamieson Wellness from an “outperform” rating to a “tender” rating and decreased their target price for the stock from C$51.00 to C$45.75 in a research report on Monday. Stifel Nicolaus lowered shares of Jamieson Wellness from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$45.00 to C$45.75 in a research note on Friday, August 7th. Royal Bank Of Canada cut shares of Jamieson Wellness from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$46.00 to C$45.75 in a report on Monday, August 10th. Finally, Canaccord Genuity Group lowered Jamieson Wellness from a “buy” rating to a “hold” rating and raised their target price for the company from C$44.50 to C$45.75 in a report on Monday, August 10th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$46.54.

Jamieson Wellness Stock Performance

The stock’s 50-day moving average price is C$42.55 and its 200 day moving average price is C$37.82. The company has a quick ratio of 1.08, a current ratio of 3.41 and a debt-to-equity ratio of 93.69. The company has a market cap of C$1.90 billion, a P/E ratio of 24.98 and a beta of 1.48.

Jamieson Wellness (TSE:JWEL) last posted its earnings results on Thursday, August 6th. The company reported C$0.46 earnings per share (EPS) for the quarter. The business had revenue of C$233.84 million for the quarter. Jamieson Wellness had a net margin of 8.92% and a return on equity of 15.93%. As a group, research analysts expect that Jamieson Wellness Inc. will post 2.1438892 EPS for the current fiscal year.

Jamieson Wellness Company Profile

Jamieson Wellness Inc is engaged in the manufacturing, distributing, and marketing of branded natural health products, including vitamins, minerals, and supplements. The company operates in two segments: The Jamieson brands and The Strategic Partners. The majority of its revenue comes from the Jamieson brand segment. Some of its brands are Jamieson, Progressive, Precision, and Iron Vegan. Geographically, most of its revenue is derived from the domestic market.