Wedbush Weighs in on Nike Inc’s Q4 2018 Earnings (NKE)

Nike Inc (NYSE:NKE) – Equities research analysts at Wedbush boosted their Q4 2018 EPS estimates for Nike in a note issued to investors on Friday. Wedbush analyst C. Svezia now expects that the footwear maker will post earnings of $0.70 per share for the quarter, up from their prior estimate of $0.68. Wedbush has a “Outperform” rating and a $74.00 price target on the stock. Wedbush also issued estimates for Nike’s FY2019 earnings at $2.67 EPS and FY2020 earnings at $3.05 EPS.

A number of other equities research analysts also recently issued reports on the stock. Goldman Sachs Group downgraded shares of Nike from a “buy” rating to a “neutral” rating and boosted their target price for the company from $52.30 to $54.00 in a report on Thursday, October 19th. Vetr upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $58.95 target price for the company in a report on Monday, October 30th. Robert W. Baird restated a “buy” rating on shares of Nike in a report on Friday, October 13th. Argus upgraded shares of Nike from a “hold” rating to a “buy” rating and boosted their target price for the company from $50.35 to $64.46 in a report on Thursday, December 14th. Finally, Forward View upgraded shares of Nike from a “sell” rating to a “hold” rating in a report on Sunday, October 29th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-one have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $64.94.

Nike (NYSE:NKE) traded up $3.10 during trading on Monday, reaching $67.21. 12,895,801 shares of the company were exchanged, compared to its average volume of 7,771,792. Nike has a 52-week low of $50.35 and a 52-week high of $67.24. The stock has a market capitalization of $107,790.00, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 3.05 and a beta of 0.64. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.

Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share.

A number of hedge funds and other institutional investors have recently made changes to their positions in NKE. Chevy Chase Trust Holdings Inc. lifted its position in Nike by 1.4% during the fourth quarter. Chevy Chase Trust Holdings Inc. now owns 1,580,843 shares of the footwear maker’s stock valued at $98,881,000 after purchasing an additional 22,129 shares during the period. Patten & Patten Inc. TN boosted its holdings in Nike by 2.0% in the 4th quarter. Patten & Patten Inc. TN now owns 110,237 shares of the footwear maker’s stock valued at $6,895,000 after purchasing an additional 2,145 shares during the last quarter. TRUE Private Wealth Advisors boosted its holdings in Nike by 168.6% in the 4th quarter. TRUE Private Wealth Advisors now owns 48,603 shares of the footwear maker’s stock valued at $3,046,000 after purchasing an additional 30,509 shares during the last quarter. Saratoga Research & Investment Management lifted its holdings in shares of Nike by 2.9% in the 4th quarter. Saratoga Research & Investment Management now owns 705,440 shares of the footwear maker’s stock worth $44,125,000 after acquiring an additional 19,670 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Nike by 749.5% during the 4th quarter. State of Alaska Department of Revenue now owns 141,138 shares of the footwear maker’s stock worth $8,826,000 after buying an additional 124,524 shares during the period. 62.86% of the stock is owned by institutional investors and hedge funds.

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 value of $7,429,050.00. Following the completion of the sale, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the sale, the insider now owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock valued at $60,257,267 in the last three months. 3.90% of the stock is owned by corporate insiders.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were given a $0.20 dividend. The ex-dividend date was Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. Nike’s payout ratio is 34.63%.

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About Nike

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.

Earnings History and Estimates for Nike (NYSE:NKE)

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