Seaport Res Ptn Issues Optimistic Forecast for NIKE Earnings

NIKE, Inc. (NYSE:NKE) – Equities research analysts at Seaport Res Ptn boosted their FY2027 EPS estimates for NIKE in a research report issued to clients and investors on Tuesday, June 24th. Seaport Res Ptn analyst M. Kummetz now forecasts that the footwear maker will post earnings of $2.91 per share for the year, up from their prior estimate of $2.83. The consensus estimate for NIKE’s current full-year earnings is $2.05 per share.

NKE has been the subject of a number of other research reports. Berenberg Bank started coverage on shares of NIKE in a research report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 target price for the company. Piper Sandler boosted their price target on NIKE from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on NIKE from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Friday. Finally, Robert W. Baird boosted their price target on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.33.

NIKE Trading Up 15.3%

Shares of NIKE stock opened at $72.09 on Thursday. The firm has a 50-day moving average of $60.63 and a 200-day moving average of $67.60. The stock has a market cap of $106.63 billion, a PE ratio of 33.38, a PEG ratio of 2.29 and a beta of 1.21. NIKE has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.00%. NIKE’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is currently 53.16%.

Insider Activity

In other news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after buying an additional 4,957,494 shares during the period. Wellington Management Group LLP boosted its holdings in NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the last quarter. Geode Capital Management LLC boosted its holdings in NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after acquiring an additional 347,178 shares during the last quarter. Finally, Capital World Investors boosted its holdings in NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock valued at $1,857,389,000 after acquiring an additional 2,288,627 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.