NIKE, Inc. Declares Quarterly Dividend of $0.37 (NYSE:NKE)

NIKE, Inc. (NYSE:NKE) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders of record on Monday, June 3rd will be paid a dividend of 0.37 per share by the footwear maker on Monday, July 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.60%.

NIKE has raised its dividend payment by an average of 11.2% annually over the last three years and has increased its dividend every year for the last 21 years. NIKE has a payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect NIKE to earn $3.95 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 37.5%.

NIKE Trading Up 2.3 %

NYSE:NKE traded up $2.07 on Thursday, hitting $92.41. The stock had a trading volume of 7,264,132 shares, compared to its average volume of 9,321,771. The stock has a market cap of $139.48 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.78 and a beta of 1.07. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $96.25 and a two-hundred day moving average price of $103.19. NIKE has a 1-year low of $88.66 and a 1-year high of $128.38.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. Equities research analysts expect that NIKE will post 3.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NKE. Barclays reduced their price target on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Telsey Advisory Group lowered their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Wedbush restated an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a report on Tuesday. Wells Fargo & Company lowered their target price on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Finally, Piper Sandler cut their price objective on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $116.26.

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.