NIKE, Inc. (NKE) To Go Ex-Dividend on December 2nd

NIKE, Inc. (NYSE:NKE) announced 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 dividend on an annualized basis and a dividend yield of 2.03%. 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 increased its dividend payment by an average of 11.2% annually over the last three years and has increased its dividend annually for the last 22 consecutive years. NIKE has a payout ratio of 50.2% indicating that 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

NYSE:NKE opened at $78.77 on Friday. The stock has a 50 day simple moving average of $80.18 and a 200 day simple moving average of $82.17. The stock has a market cap of $118.10 billion, a P/E ratio of 22.57, a PEG ratio of 1.90 and a beta of 1.03. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 EPS. Research analysts anticipate that NIKE will post 2.75 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on NKE shares. Sanford C. Bernstein dropped their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Stifel Nicolaus reduced their price target on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. TD Cowen dropped their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Guggenheim cut their target price on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and raised their price target for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price 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.