Ralph Lauren Co. (NYSE:RL) declared a quarterly dividend on Thursday, March 15th, RTT News reports. Shareholders of record on Thursday, March 29th will be paid a dividend of 0.50 per share by the textile maker on Friday, April 13th. This represents a $2.00 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, March 28th.
Ralph Lauren has raised its dividend payment by an average of 3.6% annually over the last three years. Ralph Lauren has a payout ratio of 36.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ralph Lauren to earn $6.12 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 32.7%.
Shares of RL traded down $2.62 during midday trading on Friday, hitting $111.77. The company’s stock had a trading volume of 848,393 shares, compared to its average volume of 679,877. Ralph Lauren has a one year low of $66.06 and a one year high of $119.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.07. The firm has a market cap of $9,298.65, a price-to-earnings ratio of 19.57, a PEG ratio of 1.83 and a beta of 0.64.
Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Thursday, February 1st. The textile maker reported $2.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.16. Ralph Lauren had a positive return on equity of 14.64% and a negative net margin of 1.33%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the company posted $1.86 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. research analysts forecast that Ralph Lauren will post 5.98 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on RL shares. Telsey Advisory Group boosted their price objective on Ralph Lauren from $109.00 to $115.00 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. Bank of America boosted their price objective on Ralph Lauren from $80.00 to $95.00 and gave the stock an “underperform” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded Ralph Lauren from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research report on Thursday. Nomura boosted their price objective on Ralph Lauren from $92.00 to $111.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Finally, Royal Bank of Canada restated a “hold” rating and set a $113.00 price objective on shares of Ralph Lauren in a research report on Friday, February 2nd. Five analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $97.76.
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About Ralph Lauren
Ralph Lauren Corporation designs, markets, and distributes lifestyle products worldwide. The company operates in three segments: North America, Europe, and Asia. It offers apparel, including a range of men's, women's, and children's clothing; accessories, which comprise footwear, eyewear, watches, fine jewelry, hats, belts, and leather goods, such as handbags and luggage; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, paints, tabletops, and giftware; and fragrances.
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