$0.49 EPS Expected for Nike Inc (NKE) This Quarter
Wall Street brokerages expect that Nike Inc (NYSE:NKE) will post $0.49 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Nike’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.53. Nike also posted earnings of $0.49 per share in the same quarter last year. The business is scheduled to issue its next quarterly earnings report on Tuesday, June 27th.
According to Zacks, analysts expect that Nike will report full year earnings of $2.40 per share for the current fiscal year, with EPS estimates ranging from $2.30 to $2.44. For the next financial year, analysts forecast that the business will report earnings of $2.50 per share, with EPS estimates ranging from $2.40 to $2.90. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Nike.
Nike (NYSE:NKE) last released its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.15. The company had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $8.47 billion. Nike had a net margin of 11.60% and a return on equity of 31.70%. Nike’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 EPS.
A number of analysts have weighed in on the stock. Jefferies Group LLC reissued a “buy” rating and set a $75.00 price objective on shares of Nike in a report on Wednesday, March 22nd. B. Riley reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Nike in a report on Wednesday, March 22nd. Argus cut shares of Nike from a “buy” rating to a “hold” rating and lifted their target price for the company from $55.25 to $55.56 in a report on Tuesday, April 4th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Nike in a report on Wednesday, March 22nd. Finally, Bank of America Corp reaffirmed a “sell” rating and issued a $46.00 target price on shares of Nike in a report on Wednesday, April 5th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $60.93.
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In other news, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $55.67, for a total transaction of $2,783,500.00. Following the completion of the transaction, the insider now directly owns 300,108 shares in the company, valued at approximately $16,707,012.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John R. Thompson, Jr. sold 14,000 shares of the stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $56.45, for a total value of $790,300.00. Following the transaction, the director now owns 55,660 shares of the company’s stock, valued at $3,142,007. The disclosure for this sale can be found here. In the last 90 days, insiders sold 379,000 shares of company stock valued at $21,213,800. 3.90% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Achmea Investment Management B.V. acquired a new position in Nike during the first quarter valued at approximately $6,433,000. Community Trust & Investment Co. boosted its position in Nike by 2.4% in the first quarter. Community Trust & Investment Co. now owns 13,315 shares of the footwear maker’s stock valued at $742,000 after buying an additional 315 shares during the period. North Star Asset Management Inc. boosted its position in Nike by 7.8% in the first quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock valued at $3,162,000 after buying an additional 4,129 shares during the period. Bank of Nova Scotia boosted its position in Nike by 49.8% in the first quarter. Bank of Nova Scotia now owns 821,147 shares of the footwear maker’s stock valued at $45,764,000 after buying an additional 273,105 shares during the period. Finally, Garde Capital Inc. boosted its position in Nike by 3.1% in the first quarter. Garde Capital Inc. now owns 10,132 shares of the footwear maker’s stock valued at $565,000 after buying an additional 300 shares during the period. Institutional investors own 62.23% of the company’s stock.
Nike (NYSE:NKE) traded down 0.46% during mid-day trading on Wednesday, reaching $51.96. 5,138,674 shares of the company’s stock traded hands. Nike has a 52 week low of $49.01 and a 52 week high of $60.33. The stock has a market capitalization of $85.77 billion, a PE ratio of 21.68 and a beta of 0.44. The stock’s 50 day moving average is $54.55 and its 200-day moving average is $53.94.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Monday, June 5th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, June 1st. Nike’s dividend payout ratio is presently 31.72%.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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