Morgan Stanley Reiterates Positive Rating for Nike (NKE)
The analysts wrote, “We reiterate our OW Nike rating. The stock remains our top idea. The 3c 4Q14 beat demonstrated again Nike’s ability to deliver in tough environments. FY15 guidance indicates the fundamental story remains intact. We expect the stock to grind higher and outperform Softline peers through CY14.”
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Nike from $85.00 to $90.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Nike in a research note on Friday. They now have a $90.00 price target on the stock, up previously from $85.00. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Nike in a research note on Friday. They now have a $92.00 price target on the stock, up previously from $90.00. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Nike has an average rating of “Buy” and a consensus price target of $82.44.
Shares of Nike (NYSE:NKE) traded up 2.03% during mid-day trading on Friday, hitting $78.42. 3,757,475 shares of the company’s stock traded hands. Nike has a 52 week low of $60.18 and a 52 week high of $80.26. The stock has a 50-day moving average of $75. and a 200-day moving average of $75.25. The company has a market cap of $68.864 billion and a P/E ratio of 26.24. Nike also saw some unusual options trading activity on Thursday. Stock traders purchased 39,193 put options on the stock. This is an increase of 818% compared to the typical volume of 4,268 put options.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 26th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.03. The company had revenue of $7.43 billion for the quarter, compared to the consensus estimate of $7.34 billion. During the same quarter last year, the company posted $0.76 earnings per share. Nike’s revenue was up 10.9% compared to the same quarter last year. On average, analysts predict that Nike will post $3.37 earnings per share for the current fiscal year.
NIKE, Inc (NYSE:NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.
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