Is This Russian Tech Stock a High-Yield Hidden Gem?
Shares of Qiwi (NASDAQ: QIWI) recently tumbled after it posted mixed fourth-quarter numbers. The online payments company's adjusted revenue rose 7% annually to 6.25 billion rubles ($101 million), narrowly missing estimates by 60 million rubles.
Qiwi's non-GAAP net income rose 15% to 1.17 billion rubles ($18.9 million), or 18.74 per ADS, which beat estimates by 0.05 rubles. Those numbers looked solid, but the novel coronavirus pandemic and the ongoing oil price war between Russia and Saudi Arabia are sparking concerns about its near-term growth.
Qiwi also reduced its quarterly dividend from $0.28 to $0.22 per ADS, but that still equals a forward yield of 9.5% -- which could look attractive to investors seeking big dividends in a volatile market. So is the "Russian PayPal (NASDAQ: PYPL)" a high-yield hidden gem?
Source Fool.com
