Ralph Lauren Corporation (RL) to Issue $0.50 Quarterly Dividend
Ralph Lauren Corporation (NYSE:RL) declared a quarterly dividend on Friday, September 15th, RTT News reports. Stockholders of record on Friday, September 29th will be given a dividend of 0.50 per share by the textile maker on Friday, October 13th. This represents a $2.00 annualized dividend and a dividend yield of 2.20%.
Ralph Lauren Corporation has raised its dividend by an average of 18.6% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Ralph Lauren Corporation has a payout ratio of 38.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ralph Lauren Corporation to earn $5.47 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 36.6%.
Ralph Lauren Corporation (RL) traded up 0.06% on Friday, hitting $90.87. 1,070,443 shares of the stock traded hands. Ralph Lauren Corporation has a 12-month low of $66.06 and a 12-month high of $114.00. The stock has a 50-day moving average of $84.83 and a 200-day moving average of $78.13. The firm’s market cap is $7.38 billion.
Ralph Lauren Corporation (NYSE:RL) last announced its quarterly earnings data on Tuesday, August 8th. The textile maker reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.15. Ralph Lauren Corporation had a negative net margin of 0.27% and a positive return on equity of 13.80%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the company posted $1.06 EPS. The business’s revenue was down 13.2% on a year-over-year basis. Analysts forecast that Ralph Lauren Corporation will post $5.32 earnings per share for the current year.
RL has been the subject of a number of recent research reports. Tigress Financial initiated coverage on shares of Ralph Lauren Corporation in a research note on Thursday, May 25th. They issued a “neutral” rating for the company. Zacks Investment Research cut shares of Ralph Lauren Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 24th. Credit Suisse Group upgraded shares of Ralph Lauren Corporation from a “neutral” rating to an “outperform” rating and set a $111.00 price objective for the company in a research note on Friday, September 8th. BidaskClub upgraded shares of Ralph Lauren Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $78.00 price objective (down previously from $82.00) on shares of Ralph Lauren Corporation in a research note on Friday, May 19th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Ralph Lauren Corporation currently has an average rating of “Hold” and an average target price of $90.93.
About Ralph Lauren Corporation
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
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