NIKE, Inc. (NKE) to Issue Quarterly Dividend of $0.40 on January 2nd

NIKE, Inc. (NYSE:NKE) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Investors of record on Monday, December 2nd will be given a dividend of 0.40 per share by the footwear maker on Thursday, January 2nd. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37.

NIKE has increased its dividend by an average of 11.2% per year over the last three years and has raised its dividend every year for the last 21 years. NIKE has a payout ratio of 46.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect NIKE to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 47.0%.

NIKE Stock Performance

Shares of NKE opened at $76.66 on Friday. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock’s fifty day moving average price is $80.89 and its two-hundred day moving average price is $83.27. The firm has a market cap of $114.94 billion, a PE ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 EPS. On average, equities research analysts forecast that NIKE will post 2.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America cut their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Telsey Advisory Group reduced their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Morgan Stanley boosted their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. UBS Group raised their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upped their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $96.48.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.