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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. CAE Upgraded by Desjardins
Aerospace technology provider CAE (CAE) saw its stock upgraded to Buy by Desjardins on Thursday. No price target was supplied. The company announced in July that it would be selling its data mining business to Constellation Software for an undisclosed sum. Finishing Wednesday’s session at $11.38 (down 3%) CAE’s adjusted dividend yield is 2.46%, with an annual payout of $0.28 (paid quarterly). The stock is 15.45% from its 52-week high.
2. Barrick Gold Upgraded by Deutsche Bank
Barrick Gold (ABX) was upgraded by Deutsche Bank on Wednesday, with the bank putting the stock on their Buy list. Their new price target is $12. The gold miner recently reported earnings of 5 cents per share. This was in-line with consensus estimates. Finishing Wednesday’s session at $8.13 (up 5.9%), Barrick Gold’s adjusted dividend yield is 0.98%, with an annual payout of $0.08 (paid quarterly). The stock is 58.01% from its 52-week high.
3. Coca-Cola Enterprises Upgraded by CLSA
Beverage supplier Coca-Cola Enterprises (CCE) was upgraded to Outperform by CLSA on Thursday. No target price was supplied. Finishing Wednesday’s session at $52.82 (up 1.2%), Coca-Cola Enterprises’ adjusted dividend yield is 2.12%, with an annual payout of $1.12 (paid quarterly). The stock is 1.80% from its 52-week high.
4. Copa Holdings Downgraded by Compass Point
Copa Holdings (CPA) saw its stock downgraded on Thursday, with Credit Suisse shifting their rating to Neutral. Their new price target is $80. The regional airline missed Q2 profit estimates with an EPS of 93 cents. Revenue came in at $538.4 million. Finishing Wednesday’s session at $73.23 (down 1%), Copa Holdings’ adjusted dividend yield is 4.59%, with an annual payout of $3.36 (paid quarterly). The stock is 43.92% from its 52-week high.
5. Cytec Industries Downgraded by KeyBanc
Specialty chemicals provider Cytec Industries (CYT) was downgraded to Sector Weight by KeyBanc on Thursday. No price target was supplied. Solvay recently confirmed the acquisition of Cytec in a deal worth $5.5 billion. The deal price is $75.25 a share. Finishing Wednesday’s session at $74.08, Cytec Industries’ adjusted dividend yield is 0.67%, with an annual payout of $0.50 (paid quarterly). The stock is 0.80% from its 52-week high.
