Nike Inc (NKE) Forecasted to Earn Q3 2018 Earnings of $0.61 Per Share
Nike Inc (NYSE:NKE) – Investment analysts at Wedbush reduced their Q3 2018 earnings per share estimates for shares of Nike in a research note issued on Thursday. Wedbush analyst C. Svezia now anticipates that the footwear maker will post earnings per share of $0.61 for the quarter, down from their previous estimate of $0.64. Wedbush has a “Hold” rating and a $57.00 price objective on the stock.
Several other equities research analysts also recently commented on NKE. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price objective for the company in a report on Wednesday, October 4th. Susquehanna Bancshares restated a “hold” rating and set a $57.00 price objective on shares of Nike in a report on Wednesday. Jefferies Group downgraded Nike from a “buy” rating to a “hold” rating and decreased their price objective for the company from $75.00 to $60.00 in a report on Monday, August 21st. Canaccord Genuity restated a “hold” rating and set a $50.00 price objective (down previously from $51.00) on shares of Nike in a report on Wednesday, September 27th. Finally, Instinet restated a “buy” rating and set a $62.00 price objective (up previously from $59.00) on shares of Nike in a report on Wednesday, September 27th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have given a buy rating to the stock. Nike presently has a consensus rating of “Hold” and an average price target of $60.67.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. The company’s revenue was up .1% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Asset Planning Services Ltd. lifted its position in shares of 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 last quarter. Willingdon Wealth Management purchased a new position in shares of Nike during the 3rd quarter valued at $114,000. Atlantic Trust LLC purchased a new position in shares of Nike during the 2nd quarter valued at $136,000. Kistler Tiffany Companies LLC lifted its position in shares of Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after buying an additional 1,209 shares during the last quarter. Finally, Howe & Rusling Inc. lifted its position in shares of Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after buying an additional 2,329 shares during the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the transaction, the executive vice president now directly owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.24%. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s payout ratio is currently 34.04%.
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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