DSW Inc. (DSW) to Issue Quarterly Dividend of $0.20 on September 29th
DSW Inc. (NYSE:DSW) announced a quarterly dividend on Tuesday, August 22nd, Zacks reports. Investors of record on Tuesday, September 19th will be given a dividend of 0.20 per share on Friday, September 29th. This represents a $0.80 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Monday, September 18th.
DSW has raised its dividend payment by an average of 28.7% per year over the last three years. DSW has a payout ratio of 54.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect DSW to earn $1.52 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 52.6%.
Shares of DSW (NYSE:DSW) opened at 20.35 on Friday. The company has a market cap of $1.64 billion, a P/E ratio of 13.64 and a beta of 0.80. The company has a 50-day moving average price of $18.29 and a 200-day moving average price of $18.66. DSW has a 52-week low of $15.14 and a 52-week high of $25.96.
DSW (NYSE:DSW) last released its quarterly earnings results on Tuesday, August 22nd. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.09. The business had revenue of $680.40 million during the quarter, compared to analysts’ expectations of $666.66 million. DSW had a return on equity of 12.12% and a net margin of 4.41%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. On average, equities analysts predict that DSW will post $1.50 EPS for the current year.
DSW declared that its board has authorized a stock repurchase plan on Tuesday, August 22nd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 33.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts have weighed in on the company. B. Riley restated a “buy” rating and set a $22.00 price target on shares of DSW in a report on Monday, August 28th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $21.00 price target on shares of DSW in a report on Thursday, August 24th. Jefferies Group LLC set a $20.00 price target on DSW and gave the company a “hold” rating in a report on Wednesday, August 23rd. Citigroup Inc. raised their price target on DSW from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, August 23rd. Finally, Deutsche Bank AG restated a “buy” rating and set a $22.00 price target (up previously from $21.00) on shares of DSW in a report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. DSW currently has an average rating of “Hold” and a consensus target price of $21.75.
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In related news, EVP William L. Jordan sold 2,666 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $20.03, for a total transaction of $53,399.98. Following the completion of the sale, the executive vice president now directly owns 44,254 shares of the company’s stock, valued at approximately $886,407.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Deborah L. Ferree sold 75,452 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $20.00, for a total value of $1,509,040.00. Following the sale, the chairman now directly owns 199,445 shares of the company’s stock, valued at $3,988,900. The disclosure for this sale can be found here. Insiders have sold a total of 120,476 shares of company stock valued at $2,356,471 over the last three months. 20.40% of the stock is owned by corporate insiders.
DSW Company Profile
DSW Inc is a footwear retailer. The Company offers an assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. The Company operates through two segments: the DSW segment (DSW), which includes DSW stores and dsw.com, and the Affiliated Business Group (ABG) segment.
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