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

Opera Limited (NASDAQ:OPRA) declared a semi-annual dividend on Monday, December 16th,Wall Street Journal reports. Investors of record on Monday, January 6th will be paid 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research 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 Price Performance

NASDAQ:OPRA opened at $19.81 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. The company has a 50 day moving average price of $17.93 and a 200-day moving average price of $15.19. Opera has a 1-year low of $10.11 and a 1-year high of $20.70. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 10.06 and a beta of 1.03.

Analyst Upgrades and Downgrades

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

About Opera

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.