Q1 2018 Earnings Forecast for Nike, Inc. (NKE) Issued By Forward View
Nike, Inc. (NYSE:NKE) – Research analysts at Forward View dropped their Q1 2018 earnings per share (EPS) estimates for shares of Nike in a research note issued to investors on Friday. Forward View analyst N. Yates now expects that the footwear maker will post earnings of $0.45 per share for the quarter, down from their prior forecast of $0.49. Forward View has a “Sell” rating on the stock. Forward View also issued estimates for Nike’s FY2018 earnings at $2.26 EPS and Q1 2019 earnings at $0.57 EPS.
Several other research analysts have also recently weighed in on NKE. Piper Jaffray Companies set a $50.00 target price on Nike and gave the company a “hold” rating in a research note on Thursday, June 1st. Zacks Investment Research lowered Nike from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Vetr lowered Nike from a “buy” rating to a “hold” rating and set a $54.16 price target for the company. in a research report on Monday, June 5th. Morgan Stanley reiterated a “neutral” rating and issued a $56.00 price target on shares of Nike in a research report on Wednesday, June 7th. Finally, Berenberg Bank reiterated a “buy” rating and issued a $70.00 price target on shares of Nike in a research report on Wednesday, June 14th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $60.04.
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Nike (NYSE:NKE) opened at 53.24 on Monday. The company has a 50-day moving average of $55.57 and a 200 day moving average of $55.39. Nike has a 52 week low of $49.01 and a 52 week high of $60.53. The firm has a market cap of $87.48 billion, a P/E ratio of 21.21 and a beta of 0.61.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The firm had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. During the same quarter in the previous year, the company posted $0.49 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s payout ratio is presently 28.69%.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Campion sold 5,722 shares of Nike stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the sale, 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. Insiders have sold a total of 508,360 shares of company stock worth $29,340,374 in the last three months. 3.90% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Nike by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock valued at $5,876,718,000 after buying an additional 2,452,993 shares in the last quarter. State Street Corp boosted its stake in Nike by 1.4% in the 1st quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after buying an additional 835,003 shares in the last quarter. Wellington Management Group LLP boosted its stake in Nike by 5.0% in the 1st quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Nike by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock valued at $1,621,066,000 after buying an additional 144,846 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Nike by 124.7% in the 1st quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares in the last quarter. 62.63% of the stock is currently owned by institutional investors and hedge funds.
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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