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Alberto Abaterusso
Alberto Abaterusso
Articles (1805) 

3 Stocks With High Forward Dividend Yields

Listed securities top the S&P 500 index

July 01, 2019 | About:

Three stocks are topping the S&P 500 index in terms of higher dividend yield Monday. The dividend yield for the benchmark of the U.S. stock market was 1.87% as of Friday.

The first company is Nuveen AMT-Free Municipal Income Fund (NYSE:NEA), whose shares closed at $13.81 on Friday with a market capitalization of $3.63 billion. The stock has a forward dividend yield of 4.65% versus the industry median of 4.44%.

The Chicago-based asset management company has paid dividends since March 2003.
On July 1, Nuveen AMT-Free Municipal Income Fund will pay a monthly dividend of 5.4 cents per share to shareholders of record as of June 14, in-line with its previous payout.

The stock also has a price-earnings ratio of 30.63 versus an industry median of 14.02, a price-book ratio of 0.82 versus an industry median of 1.06 and a price-sales ratio of 18.57 compared to an industry median of 3.79.

The stock earned 6% over the past 52 weeks through June 28. Shares are trading above the 200-, 100- and 50-day simple moving average lines. The 52-week range is $12.03 to $13.87.

The 14-day relative strength index of 71 suggests the stock is not far from overbought levels.

GuruFocus assigned a rating of 7 out of 10 for the company's financial strength and a 4 out of 10 rating for its profitability and growth.

The stock has not been rated yet by sell-side analysts.

The second company is Valley National Bancorp (NASDAQ:VLY), whose shares closed at $10.78 on Friday with a market capitalization of $3.57 billion.

The Wayne, New Jersey-based regional bank has a forward dividend yield of 4.08% versus an industry median of 3.19%. Valley National Bancorp has paid dividends since December 1990.

On July 1, Valley National Bancorp will reward its shareholders with a cash quarterly dividend of 11 cents, in-line with its previous payout. In order to benefit shareholders must have been on the company's record no later than June 14.

The stock also has a price-earnings ratio of 11.23 versus an industry median of 11.91, a price-book ratio of 1.11 versus an industry median of 1.05 and a price-sales ratio of 3.33 compared to an industry median of 2.91.

The share price has fallen 12% over the past year through June 28. Nevertheless, it is still above the 200-, 100- and 50-day simple moving average lines. The 52-week range is $8.42 to $13.08 per share.

The 14-day relative strength index of 64 suggests the stock is neither oversold nor overbought.

GuruFocus assigned a rating of 3 out of 10 for financial strength and profitability and growth.

Wall Street issued an overweight recommendation rating with an average target price of $11.34 per share of Valley National Bancorp. The rating means that the stock is foreseen to outperform within 12 months. The average target price reflects 5.2% upside from Friday's closing price.

The third company is Goodyear Tire & Rubber Co. (NASDAQ:GT), whose shares closed at $15.3 on Friday with a market capitalization of approximately $3.56 billion. The forward dividend yield of the stock is 4.18% versus the industry median of 2.71%.

The Akron, Ohio-based international seller of tires has paid dividends from March 1970 to December 2002 and from December 2013 to June 2019. Currently Goodyear pays a 16-cent cash quarterly dividend per common share.

The stock also has a price-earnings ratio of 6.54 versus an industry median of 13.76, a price-sales ratio of 0.24 versus an industry median of 0.60 and an enterprise value-Ebitda ratio of 4.80 versus an industry median of 8.38.

The share price decreased 35% over the past year through June 28 to below the 200-, 100- and 50-day simple moving average lines. The 52-week range is $13.23 to $25.41.

The 14-day relative strength index of 64 suggests the stock is neither oversold nor overbought.

GuruFocus assigned a rating of 5 out of 10 for both the company's financial strength and profitability and growth.

Wall Street issued a hold recommendation rating with an average target price of $18.16 per share of Goodyear Tire & Rubber Co mirroring 18.7% growth from the share price at close on Friday.

Disclosure: I have no positions in any securities mentioned.

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About the author:

Alberto Abaterusso
If somebody asks what being a value investor means, Alberto Abaterusso would answer, “The value investor is not just the possessor of the security that represents the company, but he is the owner of that company. As an owner of the company the value investor is actively involved in the dynamics of that company and his first concern is how to have sales progressively growing. Also, the value investor is probably one of the most demanding persons in the world concerning sales.”

Abaterusso is a freelance writer based in The Netherlands. He primarily writes about gold, silver and precious metals mining stocks. His articles have also been widely linked by popular sites, including MarketWatch, Financial Times, 24hGold, Investopedia, Financial.org, CNBS, MSN Money, Zachs, Reuters and others. Alberto holds an MBA from Università degli Studi di Bari (Italy), Aldo Moro.

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