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. The Wendy’s Company Upgraded by Credit Suisse
Restaurant chain Wendy’s (WEN ) saw its stock upgraded to Neutral by Credit Suisse on Monday. Their target price is $10. The company recently announced the sale of 540 stores and a $165 million share buyback. Finishing Monday’s session at $9.81 (down 0.1%), WEN’s adjusted dividend yield is 2.24%, with an annual payout of $0.22 (paid quarterly). The stock is 16.23% from its 52-week high.
2. XL Group Upgraded by Goldman Sachs
XL Group (XL ), the property and casualty insurer, was upgraded by Goldman Sachs on Tuesday, with the investment bank putting the stock on their Conviction Buy list. Their new price target is $44. Announcing a $915 million profit, the company cited the $4.28 billion acquisition of Catlin Group as a key driver. Write offs from adverse weather conditions topped $59.9 million. Finishing Monday’s session at $39.33 (up 0.9%), XL Group’s adjusted dividend yield is 2.03%, with an annual payout of $0.80 (paid quarterly). The stock is 0.58% from its 52-week high.
3. Applied Materials Downgraded by Summit Research
Semiconductor specialist Applied Materials (AMAT ) was downgraded by Summit Research on Tuesday, with a Hold rating added to the stock. No price target supplied. Applied will report its quarter earnings on Thursday. Finishing Monday’s session at $17.60 (up 3.7%), Applied Materials’ adjusted dividend yield is 2.27%, with an annual payout of $0.40 (paid quarterly). The stock is 31.54% from its 52-week high.
4. NIC Inc. Downgraded by Imperial Capital
Information services provider NIC Inc. (EGOV ) saw its stock downgraded pre-market, with Imperial Capital shifting their rating to In-Line. Their price target is $20. Finishing Monday’s session at $20.19 (up 1.7%), NIC Inc.’s adjusted dividend yield is 1.24%, with an annual payout of $0.25 (paid quarterly). The stock is 0.44% from its 52-week high.
5. Cone Midstream Partners LP Downgraded by Baird
Midstream energy company Cone Midstream Partners LP (CNNX ) was downgraded by Baird on Tuesday, with the broker confirming a Neutral rating. The new target price is $15. Missing analysts forecasts, the company reported quarter earnings per share of $0.25 on revenue of $47.7 million. Finishing Monday’s session at $13.46, Cone Midstream Partners’ adjusted dividend yield is 6.54%, with an annual payout of $0.88. The stock is 58.46% from its 52-week high.
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