Brokerages Expect Nike, Inc. (NKE) Will Post Earnings of $0.48 Per Share
Wall Street analysts predict that Nike, Inc. (NYSE:NKE) will announce earnings per share (EPS) of $0.48 for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Nike’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.55. Nike reported earnings of $0.73 per share during the same quarter last year, which suggests a negative year over year growth rate of 34.2%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, September 26th.
On average, analysts expect that Nike will report full year earnings of $2.38 per share for the current year, with EPS estimates ranging from $2.30 to $2.44. For the next financial year, analysts expect that the firm will post earnings of $2.72 per share, with EPS estimates ranging from $2.60 to $2.87. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Nike.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year.
Several equities analysts have recently commented on the stock. Robert W. Baird restated a “buy” rating and set a $65.00 price target on shares of Nike in a report on Sunday. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price target on the stock in a report on Wednesday. Telsey Advisory Group lowered their price target on shares of Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. Morgan Stanley restated a “buy” rating and set a $64.00 price target (down from $68.00) on shares of Nike in a report on Tuesday, August 29th. Finally, Jefferies Group LLC cut shares of Nike to a “buy” rating in a report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $60.43.
In related news, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the sale, the chief financial officer now directly owns 34,976 shares in the company, valued at $2,077,574.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric D. Sprunk sold 112,323 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the sale, the insider now owns 139,551 shares in the company, valued at $8,179,084.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 492,360 shares of company stock worth $28,485,174. 3.90% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. V Wealth Management LLC acquired a new stake in shares of Nike during the second quarter worth $100,000. Webster Bank N. A. increased its stake in Nike by 75.5% in the 1st quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares during the last quarter. Crestwood Advisors Group LLC acquired a new stake in Nike in the 1st quarter valued at $117,000. Asset Planning Services Ltd. increased its stake in Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after buying an additional 7 shares during the last quarter. Finally, Atlantic Trust LLC acquired a new stake in Nike in the 2nd quarter valued at $136,000. Institutional investors and hedge funds own 62.72% of the company’s stock.
Shares of Nike (NKE) traded down 0.36% on Friday, reaching $52.20. The company had a trading volume of 8,563,283 shares. The company has a 50 day moving average price of $56.66 and a 200 day moving average price of $55.62. The stock has a market capitalization of $85.77 billion, a PE ratio of 20.80 and a beta of 0.61. Nike has a 52-week low of $49.01 and a 52-week high of $60.53.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.38%. Nike’s payout ratio is 28.69%.
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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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