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

NIKE, Inc. (NYSE:NKE) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Investors of record on Monday, June 3rd will be given 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 increased its dividend payment by an average of 11.2% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. NIKE has a payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NIKE stock traded up $2.07 during midday trading on Thursday, hitting $92.41. 7,264,132 shares of the company were exchanged, compared to its average volume of 9,321,771. The firm has a market cap of $139.48 billion, a P/E ratio of 26.91, a PEG ratio of 1.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The firm has a 50 day simple moving average of $96.25 and a 200-day simple moving average of $103.19. NIKE has a 52 week low of $88.66 and a 52 week high of $128.38.

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

Analysts Set New Price Targets

Several research firms have issued reports on NKE. Citigroup dropped their price target on shares of NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Telsey Advisory Group cut their target price on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Barclays reduced their price objective on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Evercore ISI dropped their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $115.00 target price on shares of NIKE in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.