Morningstar, Inc. (NASDAQ:MORN) to Issue Quarterly Dividend of $0.50

Morningstar, Inc. (NASDAQ:MORN) announced a quarterly dividend on Friday, December 5th. Shareholders of record on Friday, July 10th will be given a dividend of 0.50 per share by the business services provider on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, July 10th.

Morningstar has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 16 consecutive years. Morningstar has a dividend payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings.

Morningstar Stock Up 2.8%

Morningstar stock opened at $170.96 on Wednesday. Morningstar has a one year low of $141.49 and a one year high of $307.17. The stock has a fifty day moving average of $171.75 and a 200 day moving average of $182.16. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $6.50 billion, a PE ratio of 17.41 and a beta of 1.01.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.18 EPS for the quarter, beating the consensus estimate of $2.41 by $0.77. The firm had revenue of $644.80 million during the quarter, compared to analyst estimates of $626.91 million. Morningstar had a net margin of 16.06% and a return on equity of 33.14%.

Wall Street Analysts Forecast Growth

MORN has been the subject of a number of recent research reports. Rothschild & Co Redburn set a $210.00 price objective on shares of Morningstar in a research report on Thursday, June 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $212.00 target price on shares of Morningstar in a report on Friday, June 26th. UBS Group lowered their target price on Morningstar from $280.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings lowered Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $227.33.

Morningstar Company Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.