13 Aug NIKE Earnings Up; Declares Quarterly Dividend of $0.21
Nike (NYSE:NKE) announced a quarterly dividend on Monday, August 12th, AnalystRatingsNetwork reports. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share on Monday, October 7th. This represents a $0.84 annualized dividend and a dividend yield of 1.26%.
The company reported $0.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.01. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter last year, the company posted $1.17 earnings per share. Nike’s revenue was up 7.4% compared to the same quarter last year. On average, analysts predict that Nike will post $3.02 earnings per share for the current fiscal year.
NKE has been the subject of a number of recent research reports. Analysts at Wells Fargo & Co. initiated coverage on shares of Nike in a research note to investors on Thursday, August 8th. They set an “outperform” rating and a $76.00 price target on the stock. They noted that the move was a valuation call. On the ratings front, analysts at Cowen and Company reiterated an “outperform” rating on shares of Nike in a research note to investors on Tuesday, July 9th. They now have a $68.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of Nike from a “neutral” rating to a “buy” rating in a research note to investors on Monday, July 8th.