Opera Limited Plans Semi-annual Dividend of $0.40 (NASDAQ:OPRA)

Opera Limited (NASDAQ:OPRA) announced a semi-annual dividend on Monday, December 16th,Wall Street Journal reports. Shareholders of record on Monday, January 6th will be given a dividend of 0.40 per share on Monday, January 13th. This represents a yield of 3.9%. The ex-dividend date of this dividend is Monday, January 6th.

Opera has a dividend payout ratio of 82.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Opera to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 86.3%.

Opera Stock Performance

OPRA traded up $0.61 on Monday, reaching $20.00. 638,188 shares of the stock were exchanged, compared to its average volume of 735,429. The firm has a market capitalization of $1.77 billion, a PE ratio of 10.15 and a beta of 1.03. The company’s 50-day moving average price is $17.82 and its 200 day moving average price is $15.15. Opera has a fifty-two week low of $10.11 and a fifty-two week high of $20.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OPRA. The Goldman Sachs Group raised their price target on Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. TD Cowen boosted their target price on Opera from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. B. Riley restated a “buy” rating and set a $25.00 price target (up previously from $24.00) on shares of Opera in a research note on Wednesday, October 30th. Finally, Lake Street Capital boosted their target price on Opera from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $24.75.

Opera Company Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.