Connect Group PLC (LON:CNCT) declared a dividend on Thursday, October 26th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, January 11th will be paid a dividend of GBX 6.70 ($0.09) per share on Friday, February 9th. This represents a dividend yield of 6.09%. The ex-dividend date is Thursday, January 11th. This is a boost from Connect Group’s previous dividend of $3.10. The official announcement can be seen at this link.
Connect Group (LON CNCT) traded down GBX 1.80 ($0.02) during mid-day trading on Friday, reaching GBX 108.20 ($1.47). The company had a trading volume of 186,007 shares, compared to its average volume of 150,915. Connect Group has a one year low of GBX 88 ($1.19) and a one year high of GBX 158.23 ($2.15). The company has a market cap of $267.97 and a price-to-earnings ratio of 983.64.
In related news, insider Mark Cashmore bought 38,100 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were bought at an average cost of GBX 105 ($1.42) per share, for a total transaction of £40,005 ($54,251.42). Also, insider Jonathan Bunting sold 45,972 shares of Connect Group stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of GBX 117 ($1.59), for a total value of £53,787.24 ($72,941.74).
A number of research firms recently weighed in on CNCT. Shore Capital reaffirmed a “buy” rating on shares of Connect Group in a research report on Thursday, November 16th. Peel Hunt reiterated an “add” rating and set a GBX 135 ($1.83) target price on shares of Connect Group in a research note on Monday, January 8th. FinnCap reiterated a “buy” rating and set a GBX 154 ($2.09) target price on shares of Connect Group in a research note on Monday, December 4th. Finally, JPMorgan Chase & Co. increased their target price on Connect Group from GBX 144 ($1.95) to GBX 145 ($1.97) and gave the company an “overweight” rating in a research note on Friday, October 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of GBX 157.80 ($2.14).
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Connect Group Company Profile
Connect Group PLC is a United Kingdom-based distribution company. The Company’s segments include Connect News & Media: News Distribution (Smiths News); Connect News & Media: Media (DMD); Connect Parcel Freight (Tuffnells); and Connect Books (Bertrams, Dawson Books and Wordery). Smiths News segment distributes newspapers and magazines to approximately 30,000 retailers across England and Wales from over 40 distribution centers.
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