NIKE, Inc. (NYSE:NKE) Declares Dividend Increase – $0.40 Per Share

NIKE, Inc. (NYSE:NKE) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Investors 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 2.11%. This is a positive change from NIKE’s previous quarterly dividend of $0.37.

NIKE has raised 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 46.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NKE traded down $0.85 during mid-day trading on Thursday, hitting $75.67. 6,974,599 shares of the stock were exchanged, compared to its average volume of 11,479,373. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market cap of $113.46 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a 50-day moving average of $81.07 and a two-hundred day moving average of $83.44.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on NKE shares. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their price objective for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Guggenheim dropped their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Telsey Advisory Group lowered their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $96.48.

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.