Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Plans Dividend Increase - $0.13 Per Share

Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Get Free Report) announced a quarterly dividend on Thursday, March 6th, RTT News reports. Shareholders of record on Tuesday, March 25th will be paid a dividend of 0.13 per share on Thursday, April 17th. This represents a $0.52 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Tuesday, March 25th. This is a 18.2% increase from Academy Sports and Outdoors's previous quarterly dividend of $0.11.

Academy Sports and Outdoors has a dividend payout ratio of 5.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Academy Sports and Outdoors to earn $6.25 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 7.0%.

Academy Sports and Outdoors Stock Down 7.5 %

NASDAQ ASO traded down $3.78 on Tuesday, hitting $46.78. 1,982,570 shares of the stock traded hands, compared to its average volume of 1,517,447. The company has a market capitalization of $3.25 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25. Academy Sports and Outdoors has a twelve month low of $44.73 and a twelve month high of $74.26. The stock has a 50-day moving average of $53.13 and a 200 day moving average of $53.70. The company has a current ratio of 1.57, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last posted its earnings results on Tuesday, December 10th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.28 by ($0.30). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.39 billion. Academy Sports and Outdoors had a net margin of 7.49% and a return on equity of 23.32%. The company's revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 earnings per share. As a group, analysts expect that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

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Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ASO shares. TD Cowen raised their price objective on Academy Sports and Outdoors from $54.00 to $61.00 and gave the stock a "hold" rating in a research note on Wednesday, January 8th. Robert W. Baird lowered their price target on shares of Academy Sports and Outdoors from $68.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, December 11th. Citigroup began coverage on shares of Academy Sports and Outdoors in a research note on Wednesday, December 18th. They set a "buy" rating and a $65.00 price target on the stock. Telsey Advisory Group cut their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, December 5th. Finally, Truist Financial lifted their target price on shares of Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $61.67.

About Academy Sports and Outdoors

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational retailer in the United States. The company outdoor division comprises camping products, such as coolers and drinkware, and camping accessories and equipment,; fishing products, including marine equipment and fishing rods, reels, and baits and equipment; and hunting products, which includes firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, gun safes, optics, airguns, and hunting equipment.