Company Update (NYSE:HCP): HCP Declares Quarterly Cash Dividend on Common Stock

[PR Newswire] – IRVINE, Calif., April 27, 2016 /PRNewswire/ — HCP ( NYSE:HCP ) announced that its Board of Directors declared a quarterly common stock cash dividend of $0.575 per share. The dividend will be paid on May … Read more on this. HCP, Inc. (HCP) , with a current value of $15.98B, began trading this morning at $34.54. Looking at the stock, its one day range is $33.84 to $34.61 with a trailing 52-week range being $25.11 to $42.12. Priced at 12.41x this year’s forecasted earnings, HCP shares are relatively inexpensive compared to the industry’s 17.69x forward p/e ratio. The company pays shareholders $2.30 per share in dividend income per year, for a current yield of 6.81%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $0.69 per share, which would be $0.10 worse than the year-ago quarter and a $0.09 sequential decrease. The full-year EPS estimate is $2.78, which would be a $0.38 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $621.93 Million. If reported, that would be a 1.82% increase over the year-ago quarter. More recently, UBS downgraded HCP from Buy to Neutral (Mar 16, 2016). Previously, Stifel downgraded HCP from Hold to Sell. Given all the information above, we should disclose to readers that the average price target is $29.85, which is 13.58% below than it opened this morning. See more in (NYSE:HCP) Similar Articles: Company Update (NYSE:PH): Parker Declares Quarterly Cash Dividend Stock Update (NYSE:MO): Altria Declares Regular Quarterly Dividend of $0.565 per Common Share Company Update: HCP Inc (NYSE:HCP) – HCP Declares Increased Quarterly Cash Dividend on Common Stock for 31st Consecutive Year