Entain (LON:ENT) Trading Up 9.3% Following Dividend Announcement

Entain Plc (LON:ENT) shares were up 9.3% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as GBX 581.40 ($7.43) and last traded at GBX 572.24 ($7.31). 31,313,732 shares traded hands during mid-day trading, an increase of 1,055% from the average session volume of 2,710,170 shares. The stock had previously closed at GBX 523.40 ($6.69).

The newly announced dividend which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 15th will be paid a GBX 9.30 ($0.12) dividend. The ex-dividend date of this dividend is Thursday, August 15th. This is an increase from Entain’s previous dividend of $8.90. This represents a dividend yield of 1.78%. Entain’s dividend payout ratio is -1,276.60%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 1,089 ($13.92) target price on shares of Entain in a report on Thursday, April 18th. Jefferies Financial Group restated a “buy” rating and set a GBX 1,140 ($14.57) price objective on shares of Entain in a research note on Monday, June 24th. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,140 ($14.57) target price on shares of Entain in a report on Wednesday, April 17th. Finally, Shore Capital reissued a “buy” rating on shares of Entain in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,143.17 ($14.61).

Entain Stock Performance

The company has a 50-day moving average price of GBX 640.81 and a two-hundred day moving average price of GBX 766.04. The stock has a market capitalization of £3.57 billion, a P/E ratio of -395.89, a price-to-earnings-growth ratio of 0.92 and a beta of 1.17. The company has a current ratio of 0.56, a quick ratio of 0.74 and a debt-to-equity ratio of 134.33.

Insider Activity

In other news, insider J M. Barry Gibson bought 5,066 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were purchased at an average price of GBX 687 ($8.78) per share, with a total value of £34,803.42 ($44,477.21). Corporate insiders own 0.22% of the company’s stock.

Entain Company Profile

Entain Plc operates as a sports-betting and gaming company. The company provides online and multi-channel betting under the Ladbrokes name; street and online betting under the Coral name; online sports betting, casino, and gaming under the Eurobet name; scores, sports information, editorial and social content, and sports focused free-to play games under the 365Scores name; sports betting and games under the SuperSport and BetCity names; online betting under the bwin name; and sports betting, poker, and casino games under the Crystalbet name.