Jefferies Group Research Analysts Lower Earnings Estimates for Nike Inc (NKE)
Nike Inc (NYSE:NKE) – Analysts at Jefferies Group dropped their Q4 2018 earnings per share estimates for shares of Nike in a research note issued to investors on Tuesday. Jefferies Group analyst R. Konik now anticipates that the footwear maker will earn $0.64 per share for the quarter, down from their prior estimate of $0.70. Jefferies Group currently has a “Hold” rating and a $49.00 target price on the stock.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. Nike had a net margin of 11.62% and a return on equity of 32.18%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS.
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Several other equities analysts have also commented on NKE. Stifel Nicolaus set a $66.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price target on shares of Nike and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Guggenheim reaffirmed a “buy” rating and set a $70.00 price target on shares of Nike in a research report on Monday, July 24th. Cowen and Company set a $54.00 price target on shares of Nike and gave the stock a “hold” rating in a research report on Friday, August 4th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $65.00 price target on shares of Nike in a research report on Friday, June 30th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $60.04.
Nike (NYSE:NKE) traded down 0.56% during trading on Thursday, hitting $53.26. 4,899,654 shares of the company were exchanged. The company has a market capitalization of $87.52 billion, a price-to-earnings ratio of 21.22 and a beta of 0.61. The company has a 50-day moving average of $55.57 and a 200-day moving average of $55.39. Nike has a 12 month low of $49.01 and a 12 month high of $60.53.
Institutional investors have recently added to or reduced their stakes in the business. V Wealth Management LLC acquired a new position in Nike during the 2nd quarter valued at about $100,000. Webster Bank N. A. increased its stake in Nike by 75.5% during 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 period. Asset Planning Services Ltd. increased its stake in Nike by 0.3% during 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 period. Atlantic Trust LLC acquired a new position in Nike during the 2nd quarter valued at about $136,000. Finally, Rational Advisors LLC increased its stake in Nike by 14.3% during the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after buying an additional 321 shares during the period. 62.63% of the stock is currently owned by hedge funds and other institutional investors.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the transaction, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the transaction, the chief financial officer now directly owns 34,976 shares in the company, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 508,360 shares of company stock worth $29,340,374. 3.90% of the stock is owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.34%. Nike’s payout ratio 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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