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

NIKE, Inc. (NYSE:NKE) declared a quarterly dividend on Thursday, August 6th. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.41 per share by the footwear maker on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 1st.

NIKE has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 22 years. NIKE has a dividend payout ratio of 63.3% meaning its dividend is sufficiently covered by earnings. Analysts expect NIKE to earn $2.35 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 69.8%.

NIKE Stock Performance

NKE opened at $41.91 on Friday. The firm has a market capitalization of $62.18 billion, a PE ratio of 20.05, a PEG ratio of 1.88 and a beta of 1.11. The firm’s 50-day moving average price is $43.28 and its 200 day moving average price is $49.61. NIKE has a twelve month low of $40.00 and a twelve month high of $80.17. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. As a group, sell-side analysts expect that NIKE will post 1.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on NKE. Rothschild & Co Redburn decreased their target price on shares of NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a report on Friday, July 17th. The Goldman Sachs Group reduced their price objective on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. China Renaissance decreased their price objective on shares of NIKE from $50.30 to $47.30 and set a “hold” rating on the stock in a report on Thursday, July 2nd. Piper Sandler lowered their price objective on shares of NIKE from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Finally, Barclays dropped their target price on NIKE from $67.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.53.

About NIKE

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).