Presidio Inc Announces Quarterly Dividend of $0.04 (PSDO)

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Presidio Inc (NASDAQ:PSDO) announced a quarterly dividend on Thursday, November 8th, Wall Street Journal reports. Shareholders of record on Wednesday, December 26th will be paid a dividend of 0.04 per share on Monday, January 7th. This represents a $0.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, December 24th.

Presidio has a dividend payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Presidio to earn $0.82 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 19.5%.

Shares of PSDO opened at $13.55 on Wednesday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 2.63 and a beta of 1.30. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.02 and a current ratio of 1.05. Presidio has a 1 year low of $11.97 and a 1 year high of $19.74.

Presidio (NASDAQ:PSDO) last issued its earnings results on Wednesday, November 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.05). The firm had revenue of $750.00 million during the quarter, compared to the consensus estimate of $747.79 million. Presidio had a net margin of 4.54% and a return on equity of 5.63%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Research analysts anticipate that Presidio will post 0.63 earnings per share for the current fiscal year.

In related news, major shareholder Apollo Management Holdings Gp, sold 3,000,000 shares of the business’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $15.24, for a total transaction of $45,720,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven J. Lerner acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were bought at an average price of $13.22 per share, for a total transaction of $132,200.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $264,400. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

PSDO has been the topic of several research reports. Zacks Investment Research lowered Presidio from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Goldman Sachs Group initiated coverage on Presidio in a research note on Monday, August 27th. They issued a “neutral” rating and a $15.00 target price on the stock. ValuEngine lowered Presidio from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. SunTrust Banks initiated coverage on Presidio in a research note on Tuesday, December 4th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, BidaskClub lowered Presidio from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Presidio currently has an average rating of “Hold” and an average target price of $17.71.

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About Presidio

Presidio, Inc provides information technology (IT) solutions to the middle market in North America. The company offers digital infrastructure solutions that enable clients to deploy IT infrastructure, as well as focuses on networking, collaboration, enterprise mobility, Internet of Things, and data analytics.

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