NIKE, Inc. (NYSE:NKE) Increases Dividend to $0.40 Per Share

NIKE, Inc. (NYSE:NKE) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date 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 22 years. NIKE has a dividend payout ratio of 50.2% 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 $1.60 annual dividend with an expected future payout ratio of 50.8%.

NIKE Stock Performance

Shares of NYSE:NKE opened at $78.77 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $118.10 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.91 and a beta of 1.03. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The firm’s 50-day moving average is $80.18 and its 200 day moving average is $82.10.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Research analysts predict that NIKE will post 2.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen dropped their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Royal Bank of Canada decreased their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Needham & Company LLC assumed coverage on NIKE in a research report on Friday, November 22nd. They set a “buy” rating and a $84.00 price target on the stock. Finally, Telsey Advisory Group decreased their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.86.

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.