Opera ( NASDAQ:OPRA ) rose after strong earnings

Opera Limited (NASDAQ:OPRA – Get Free Report ) shares rose before the market opened on Thursday following a better-than-expected earnings announcement. The stock had previously closed at $12.84 but opened at $14.02. Opera shares last traded at $15.23 with a volume of 370,494 shares traded.

The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $109.73 million during the quarter, compared to analyst estimates of $108.65 million. Opera had a return on equity of 19.52% and a net margin of 41.00%. In the same quarter last year, the company earned $0.15 per share.

Dividend announcement from Opera

The company also recently disclosed a semi-annual dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd were issued a dividend of $0.40 per share. This represents a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, July 2nd. Opera’s dividend payout ratio is currently 41.49%.

Analysts on Wall Street are forecasting an increase

Separately, B. Riley upped their target price on shares of Opera from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday.

Read our latest Opera research report

Institutional Trade of Opera

Hedge funds and other institutional investors have recently bought and sold shares of the company. EntryPoint Capital LLC boosted its stake in Opera by 248.8% in the first quarter. EntryPoint Capital LLC now owns 6,118 shares of the company’s stock valued at $97,000 after purchasing an additional 4,364 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Opera in the second quarter valued at $112,000. National Bank of Canada FI boosted its position in Opera by 1,474.9% in the second quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock valued at $112,000 after purchasing an additional 7,640 shares during the period. Annex Advisory Services LLC bought a new position in shares of Opera in the first quarter valued at about $158,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Opera in the second quarter valued at approximately $147,000. Hedge funds and other institutional investors own 10.21% of the company’s shares.

Opera Price Performance

The firm has a fifty day moving average of $12.94 and a two hundred day moving average of $13.55. The company has a current ratio of 2.10, a quick ratio of 2.10, and a debt-to-equity ratio of 0.01. The company has a market cap of $1.43 billion, a PE ratio of 8.61 and a beta of 0.98.

About Opera

(Get a free report)

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 PC and mobile; Opera Touch; PC browsers, including Opera for PC and Opera GX; Apex Soccer; Opera VPN Pro; and Opera News, a personalized AI-powered news discovery and aggregation service.

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