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. Brocade Communications Systems Upgraded by Summit Research
Data storage provider Brocade Communications Systems (BRCD) saw its stock upgraded Friday, with Summit Research confirming a Buy rating and a new target price of $14. Finishing Thursday’s session at $9.72 (down 3.29%), Brocade Communications Systems’ adjusted dividend yield is 1.85%, with an annual payout of $0.18 (paid quarterly). The stock is 25% from its 52-week high.
2. International Flavors & Fragrances Upgraded by Morgan Stanley
International Flavors & Fragrances (IFF ), a New York-based company, was upgraded on Friday, with Morgan Stanley lifting their rating to Overweight. No price target was supplied. In July, IFF announced the purchase of Lucas Meyer Cosmetics for €283 million. Finishing Thursday’s session at $112, IFF’s adjusted dividend yield is 2%, with an annual payout of $2.24 (paid quarterly). The stock is 9% from its 52-week high.
3. Spirit Realty Capital Upgraded by Baird
Spirit Realty Capital (SRC ) saw its stock upgraded pre-market on Friday, with Baird changing their rating to Outperform. Their new price target is $12. Finishing Thursday’s session at $10.37 (down 1%), Spirit Realty Capital’s adjusted dividend yield is 6.41%, with an annual payout of $0.67 (paid quarterly). The stock is 20.23% from its 52-week high.
4. Luxottica Group Downgraded by Goldman Sachs
Luxottica Group (LUX) was downgraded pre-market on Friday, with Goldman Sachs confirming a Sell rating. No price target was supplied. The eyewear manufacturer posted record Q2 earnings in July, with sales rising 19%. Finishing Thursday’s session at $68.16 (down 3.8%), Luxottica’s adjusted dividend yield is 0.94%, with an annual payout of $0.64. The stock is 7.89% from its 52-week high.
5. Stage Stores Downgraded by B. Riley
Apparel store Stage Stores (SSI ) saw its stock downgraded to Neutral by B. Riley on Friday. Their new price target is $14. This comes after the company announced the closure of 90 stores in an effort to reduce costs and boost profitability. Finishing Thursday’s session at $11.95 (down 29.3%), Stage Stores’ adjusted dividend yield is 4.69%, with an annual payout of $0.56. The stock is 48.62% from its 52-week high.
