Micro Focus International (MCRO) Trading Up 11% Following Dividend Announcement

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Micro Focus International plc (LON:MCRO) shares rose 11% during trading on Thursday after the company announced a dividend. The stock traded as high as GBX 1,700 ($22.21) and last traded at GBX 1,684.50 ($22.01). Approximately 529,443 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,560,000 shares. The stock had previously closed at GBX 1,517.50 ($19.83).

The newly announced dividend which will be paid on Friday, April 5th. Stockholders of record on Thursday, February 28th will be issued a dividend of GBX 45.22 ($0.59) per share. This represents a dividend yield of 2.98%. This is a positive change from Micro Focus International’s previous dividend of $43.86. The ex-dividend date is Thursday, February 28th.

MCRO has been the subject of several recent research reports. Barclays reiterated an “overweight” rating on shares of Micro Focus International in a report on Thursday, December 6th. Deutsche Bank reissued a “hold” rating on shares of Micro Focus International in a research report on Tuesday, November 6th. Numis Securities reissued a “buy” rating and set a GBX 1,680 ($21.95) price target on shares of Micro Focus International in a research report on Monday, November 5th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Micro Focus International in a research report on Wednesday, November 7th. Finally, UBS Group reissued a “buy” rating and set a GBX 1,700 ($22.21) price target (down previously from GBX 1,950 ($25.48)) on shares of Micro Focus International in a research report on Friday, January 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Micro Focus International presently has an average rating of “Hold” and a consensus price target of GBX 1,329.50 ($17.37).

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Micro Focus International Company Profile (LON:MCRO)

Micro Focus International plc, an infrastructure software company, develops, sells, and supports software products and solutions to federal, airlines, and healthcare industries in the United Kingdom, the United States, Germany, France, Japan, and internationally. The company operates through Micro Focus and SUSE segments.

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