Gap Inc (NYSE:GPS) announced a quarterly dividend on Thursday, November 15th, RTT News reports. Shareholders of record on Wednesday, January 9th will be paid a dividend of 0.2425 per share by the apparel retailer on Wednesday, January 30th. This represents a $0.97 dividend on an annualized basis and a yield of 3.71%.

GAP has raised its dividend by an average of 2.3% annually over the last three years. GAP has a payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect GAP to earn $2.72 per share next year, which means the company should continue to be able to cover its $0.97 annual dividend with an expected future payout ratio of 35.7%.

NYSE GPS traded down $0.74 during trading on Thursday, reaching $26.12. 419,111 shares of the company’s stock were exchanged, compared to its average volume of 5,045,798. GAP has a fifty-two week low of $25.27 and a fifty-two week high of $35.68. The firm has a market capitalization of $10.54 billion, a PE ratio of 12.31, a PEG ratio of 1.18 and a beta of 0.71. The company has a current ratio of 1.96, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37.

GAP (NYSE:GPS) last announced its quarterly earnings data on Thursday, August 23rd. The apparel retailer reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.04. GAP had a return on equity of 29.25% and a net margin of 5.43%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the company posted $0.58 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts anticipate that GAP will post 2.58 EPS for the current year.

GPS has been the subject of a number of research reports. JPMorgan Chase & Co. lowered GAP from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $30.00 to $24.00 in a research report on Thursday, October 18th. Royal Bank of Canada decreased their price objective on GAP to $30.00 and set a “positive” rating for the company in a research report on Thursday, November 1st. B. Riley restated a “neutral” rating on shares of GAP in a research report on Wednesday, November 7th. Citigroup raised GAP from a “sell” rating to a “neutral” rating and set a $28.00 price target for the company in a research note on Monday, August 27th. They noted that the move was a valuation call. Finally, ValuEngine downgraded GAP from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $32.72.

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GAP Company Profile

The Gap, Inc operates as an apparel retail company worldwide. The company offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, and Intermix brands. Its products include denim, tees, button-downs, khakis, and other products; and fitness and lifestyle products for use in yoga, training, sports, travel, and everyday activities to women and girls.

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Dividend History for GAP (NYSE:GPS)

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