NIKE, Inc. (NYSE:NKE) Announces Quarterly Dividend of $0.40

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

NIKE has raised its dividend 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 dividend payout ratio of 46.3% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Up 1.3 %

NYSE:NKE opened at $76.66 on Friday. The firm has a market capitalization of $114.94 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.86 and a beta of 1.03. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $80.89 and a 200 day moving average of $83.27. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. On average, research analysts predict that NIKE will post 2.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NKE shares. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Jefferies Financial Group lifted their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Evercore ISI reduced their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and lifted their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.48.

NIKE Company Profile

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.