Connect Group PLC (LON:CNCT) declared a dividend on Thursday, October 26th, Upcoming.Co.Uk reports. Investors of record on Thursday, January 11th will be given a dividend of GBX 6.70 ($0.09) per share on Friday, February 9th. This represents a yield of 6.09%. The ex-dividend date is Thursday, January 11th. This is a positive change from Connect Group’s previous dividend of $3.10. The official announcement can be accessed at this link.
Connect Group (CNCT) traded up GBX 0.40 ($0.01) during midday trading on Friday, reaching GBX 75.50 ($1.02). The company had a trading volume of 512,671 shares, compared to its average volume of 377,620. Connect Group has a 1 year low of GBX 73 ($0.99) and a 1 year high of GBX 150.75 ($2.04). The stock has a market capitalization of $186.98 and a P/E ratio of 686.36.
CNCT has been the topic of a number of research reports. Shore Capital restated a “buy” rating on shares of Connect Group in a report on Thursday, October 26th. Numis Securities restated a “buy” rating and issued a GBX 100 ($1.36) price objective (down from GBX 135 ($1.83)) on shares of Connect Group in a report on Tuesday, January 23rd. FinnCap restated a “buy” rating and issued a GBX 154 ($2.09) price objective on shares of Connect Group in a report on Thursday, October 26th. JPMorgan Chase & Co. raised their price objective on Connect Group from GBX 144 ($1.95) to GBX 145 ($1.97) and gave the stock an “overweight” rating in a report on Friday, October 27th. Finally, Peel Hunt restated an “add” rating and issued a GBX 135 ($1.83) price objective on shares of Connect Group in a report on Thursday, December 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of GBX 148.17 ($2.01).
In related news, insider Gary Kennedy bought 30,000 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was acquired at an average price of GBX 76 ($1.03) per share, for a total transaction of £22,800 ($30,919.45). Also, insider Mark Cashmore bought 38,100 shares of the stock in a transaction dated Monday, December 18th. The stock was bought at an average price of GBX 105 ($1.42) per share, with a total value of £40,005 ($54,251.42).
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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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