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Critical Facts You Need to Know About Preferred Stocks
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Below are the dividend stocks that were subject to analyst moves before the bell. Analysts weigh in with insight and commentary as to what you can expect going forward.
1. Ryland Group Upgraded by Credit Suisse
Residential construction company Ryland Group (RYL) saw its stock upgraded on Monday with Credit Suisse confirming a new price target of $48.40 and a Neutral rating. Ryland Group announced early in the week that they will be merging with Standard Pacific Corp. The new entity will become the fourth-largest U.S. residential builder. Finishing Monday’s session at $45.02 (up 5.2%), Ryland’s adjusted dividend yield is 0.27% with an annual payout of $0.12 (paid quarterly). The stock is 9.34% from its 52-week high.
2. BCE Upgraded by Canaccord Genuity
Domestic telecom services provider BCE Inc. (BCE ) was upgraded Monday afternoon with Canaccord Genuity raising their target price to $56.00 and their rating to Hold. Finishing Monday’s session at $43.34 (up 0.1%), BCE’s adjusted dividend yield is 6.00% with an annual payout of $2.60 (paid quarterly). The stock is 10.21% from its 52-week high.
3. Alamos Gold Upgraded by Desjardins
Gold miner Alamos Gold (AGI ) saw its stock upgraded in the afternoon on Monday with Desjardins adding the stock to their Buy list. Finishing Monday’s session at $6.11 (up 3.2%), Alamos’s adjusted dividend yield is 0.98% with an annual payout of $0.06 (paid quarterly). The stock is 42.09% from its 52-week high.
4. BMO Capital Initiates Coverage on Barrick Gold
BMO Capital initiated coverage on gold producer Barrick Gold (ABX) on Tuesday with the broker adding the stock to their Outperform list. No target price was provided. Barrick Gold has recently been in the headlines as Morningstar reiterated a BBB credit rating on the stock. Finishing Monday’s session at $11.47 (up 1.8%), Barrick Gold’s adjusted dividend yield is 1.74% with an annual payout of $0.20 (paid quarterly). The stock is 41.15% from its 52-week high.
5. Methode Electronics Downgraded by Baird
Diversified electronics supplier Methode Electronics (MEI ) saw its stock downgraded pre-market on Tuesday with Baird changing its rating to Neutral from Outperform. Finishing Monday’s session at $47.72 (down 0.2%), Methode’s adjusted dividend yield is 0.75% with an annual payout of $0.36 (paid quarterly). The stock is 2.63% from its 52-week high.
6. American International Group Downgraded by Deutsche Bank
Property and casualty insurance provider American International Group (AIG ) saw its stock downgraded on Tuesday with Deutsche Bank adding a Hold rating and a new target price of $64.00. Finishing Monday’s session at $62.57 (up 1.1%), AIG’s adjusted dividend yield is 0.80% with an annual payout of $0.50 (paid quarterly). The stock is 1.77% from its 52-week high.
