NIKE, Inc. (NKE) To Go Ex-Dividend on December 1st

NIKE, Inc. (NYSE:NKE) announced a quarterly dividend on Thursday, November 20th. Stockholders of record on Monday, December 1st will be paid a dividend of 0.41 per share by the footwear maker on Friday, January 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, December 1st. This is a 2.5% increase from NIKE’s previous quarterly dividend of $0.40.

NIKE has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 22 years. NIKE has a dividend payout ratio of 61.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NIKE to earn $2.34 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 68.4%.

NIKE Price Performance

Shares of NIKE stock opened at $62.72 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $92.71 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. NIKE has a twelve month low of $52.28 and a twelve month high of $82.44. The company has a 50-day simple moving average of $67.36 and a two-hundred day simple moving average of $68.83.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts forecast that NIKE will post 2.05 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. UBS Group set a $71.00 price target on shares of NIKE and gave the company a “neutral” rating in a research report on Friday, September 19th. Truist Financial reiterated a “buy” rating and issued a $85.00 target price on shares of NIKE in a report on Wednesday, October 1st. KeyCorp set a $90.00 price target on shares of NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Needham & Company LLC reiterated a “buy” rating and set a $78.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Finally, The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the company a “buy” rating in a research report on Thursday, September 25th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $82.24.

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.