$0.49 EPS Expected for Nike, Inc. (NKE) This Quarter
Equities analysts expect that Nike, Inc. (NYSE:NKE) will announce earnings per share (EPS) of $0.49 for the current quarter, Zacks reports. 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 reported earnings per share of $0.49 in the same quarter last year. The business is expected to issue its next earnings report after the market closes on Thursday, June 29th.
On average, 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 year, analysts forecast that the company will post earnings of $2.47 per share, with EPS estimates ranging from $2.35 to $2.76. Zacks’ EPS averages are an average based on a survey of analysts that cover Nike.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.15. The business had revenue of $8.43 billion during the quarter, compared to analyst estimates of $8.47 billion. Nike had a return on equity of 32.97% and a net margin of 12.02%. Nike’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share.
NKE has been the topic of a number of research reports. Morgan Stanley set a $56.00 price objective on Nike and gave the stock a “neutral” rating in a research note on Monday, March 13th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $51.00 price objective on shares of Nike in a research note on Thursday, March 16th. Bank of America Corporation reaffirmed an “underperform” rating and issued a $46.00 price objective on shares of Nike in a research note on Wednesday, March 22nd. Deutsche Bank AG lifted their price objective on Nike from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, March 8th. Finally, Vetr downgraded Nike from a “buy” rating to a “hold” rating and set a $58.44 price objective on the stock. in a research note on Monday, April 17th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $60.74.
In related news, insider Eric D. Sprunk sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 300,108 shares of the company’s stock, valued at approximately $16,707,012.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 100,000 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $55.50, for a total value of $5,550,000.00. Following the transaction, the chairman now directly owns 1,966,235 shares in the company, valued at $109,126,042.50. The disclosure for this sale can be found here. Insiders have sold a total of 379,000 shares of company stock worth $21,213,800 over the last ninety days. 3.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Laurel Wealth Advisors Inc. acquired a new position in shares of Nike during the first quarter valued at about $180,000. Perigon Wealth Management LLC raised its position in shares of Nike by 3.5% in the first quarter. Perigon Wealth Management LLC now owns 42,177 shares of the footwear maker’s stock worth $2,353,000 after buying an additional 1,443 shares in the last quarter. Seaward Management Limited Partnership raised its position in shares of Nike by 0.4% in the first quarter. Seaward Management Limited Partnership now owns 139,079 shares of the footwear maker’s stock worth $7,750,000 after buying an additional 541 shares in the last quarter. Sowell Financial Services LLC raised its position in shares of Nike by 15.2% in the first quarter. Sowell Financial Services LLC now owns 5,977 shares of the footwear maker’s stock worth $311,000 after buying an additional 788 shares in the last quarter. Finally, Piedmont Investment Advisors LLC raised its position in shares of Nike by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 281,287 shares of the footwear maker’s stock worth $15,676,000 after buying an additional 2,402 shares in the last quarter. 65.55% of the stock is currently owned by institutional investors.
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Shares of Nike (NKE) traded up 1.8562% during mid-day trading on Monday, reaching $52.0485. The company’s stock had a trading volume of 4,208,207 shares. The company’s 50-day moving average price is $53.33 and its 200-day moving average price is $54.14. Nike has a 12-month low of $49.01 and a 12-month high of $60.33. The stock has a market capitalization of $85.92 billion, a P/E ratio of 21.7140 and a beta of 0.47. Nike also was the target of unusually large options trading on Friday. Stock traders purchased 42,759 put options on the company. This is an increase of approximately 374% compared to the typical daily volume of 9,024 put options.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Monday, June 5th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, June 1st. Nike’s dividend payout ratio is currently 30.00%.
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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