Brokers Set Expectations for Nike, Inc.’s FY2020 Earnings (NKE)
Nike, Inc. (NYSE:NKE) – Analysts at Jefferies Group issued their FY2020 earnings estimates for shares of Nike in a note issued to investors on Monday. Jefferies Group analyst R. Konik forecasts that the footwear maker will post earnings of $3.00 per share for the year. Jefferies Group has a “Hold” rating and a $60.00 price target on the stock.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. During the same period in the prior year, the business earned $0.49 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis.
A number of other analysts have also recently commented on the stock. Berenberg Bank initiated coverage on shares of Nike in a research report on Tuesday, May 16th. They issued a “buy” rating and a $70.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 target price on shares of Nike in a research note on Friday, June 30th. Morgan Stanley raised shares of Nike from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $56.00 to $68.00 in a research note on Wednesday, July 19th. Deutsche Bank AG set a $63.00 target price on shares of Nike and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Finally, Nomura reaffirmed a “buy” rating on shares of Nike in a research note on Monday, May 15th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Nike has a consensus rating of “Hold” and an average target price of $60.54.
Shares of Nike (NYSE NKE) traded down 0.711% during mid-day trading on Wednesday, hitting $53.745. The stock had a trading volume of 4,923,758 shares. Nike has a 12-month low of $49.01 and a 12-month high of $60.53. The company has a 50 day moving average price of $58.48 and a 200 day moving average price of $55.81. The firm has a market cap of $88.31 billion, a P/E ratio of 21.412 and a beta of 0.59.
Hedge funds have recently modified their holdings of the stock. V Wealth Management LLC bought a new stake in shares of Nike during the second quarter worth $100,000. Crestwood Advisors Group LLC bought a new stake in shares of Nike during the first quarter worth $117,000. Webster Bank N. A. raised its stake in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares in the last quarter. Asset Planning Services Ltd. bought a new stake in shares of Nike during the first quarter worth $118,000. Finally, Atlantic Trust LLC bought a new stake in shares of Nike during the second quarter worth $136,000. Hedge funds and other institutional investors own 63.47% of the company’s stock.
In related news, insider Eric D. Sprunk sold 112,323 shares of Nike stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $58.61, for a total value of $6,583,251.03. Following the transaction, the insider now directly owns 139,551 shares of the company’s stock, valued at $8,179,084.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Hilary K. Krane sold 28,072 shares of Nike stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the completion of the transaction, the chief accounting officer now directly owns 177,723 shares in the company, valued at $10,325,706.30. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock worth $28,485,174 over the last three months. 3.90% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.33%. Nike’s dividend payout ratio (DPR) is 28.69%.
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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