Janney Montgomery Scott Maintains a 'Neutral' on Buckle (BKE); Announces Special Cash and Quarterly Dividend

Janney Montgomery Scott maintains a 'Neutral' on Buckle, Inc. (NYSE: BKE) price target of $35.00.

JMS analyst says, "On September 20, 2011, following the company’s board meeting on September 19, 2011, BKE announced a special cash dividend of $2.25 per share. In addition, the company declared a $0.20 per share regular quarterly dividend...We point out that this announcement marks the fifth time in the past six consecutive years BKE has issued a special one-time cash dividend, in addition to its regular quarterly dividend, announced during 2H and sometime between September and December. The chart below shows the dates of the special dividend announcements in 2006, 2008, 2009, 2010, and 2011. The company continues to operate at historically high operating margins, with FY11 operating margins expected to be above 20% again. We choose to remain on the sidelines at current levels, until there is greater visibility on the company’s ability to maintain peak metrics longer-term."

For more ratings news on Buckle, Inc. click here and for the rating history of Buckle, Inc. click here.

Shares of Buckle, Inc. closed at $39.38 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Pegasystems (PEGA) Declares $0.083 Special Dividend; 0.2% Yield
• United Community Banks Inc. (UCB) Raises Quarterly Dividend 4% to $0.26; 2.8% Yield
• Newmarket (NEU) Declares $3.00 Quarterly Dividend; 1.3% Yield