NIKE, Inc. (NYSE:NKE) Declares $0.41 Quarterly Dividend

NIKE, Inc. (NYSE:NKE) announced a quarterly dividend on Friday, February 13th. Stockholders of record on Monday, March 2nd will be paid a dividend of 0.41 per share by the footwear maker on Wednesday, April 1st. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, March 2nd.

NIKE has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 22 years. NIKE has a payout ratio of 63.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NIKE to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 70.1%.

NIKE Price Performance

NIKE stock traded down $1.78 during midday trading on Friday, reaching $62.17. 18,004,521 shares of the company were exchanged, compared to its average volume of 14,146,070. The firm’s 50-day simple moving average is $63.30 and its 200-day simple moving average is $67.09. NIKE has a 1 year low of $52.28 and a 1 year high of $80.96. The company has a market capitalization of $92.04 billion, a price-to-earnings ratio of 36.57, a P/E/G ratio of 3.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. On average, analysts anticipate that NIKE will post 2.05 EPS for the current year.

Analysts Set New Price Targets

NKE has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, November 17th. BNP Paribas Exane decreased their price target on NIKE from $38.00 to $35.00 and set an “underperform” rating on the stock in a research note on Friday, December 19th. Robert W. Baird lowered their price target on NIKE from $93.00 to $85.00 and set an “outperform” rating for the company in a report on Friday, December 19th. Piper Sandler set a $75.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a report on Friday, December 19th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of NIKE in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.61.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).