NIKE (NYSE:NKE) Issues Quarterly Earnings Results

03 Oct 2024, 12:12 by Jessica Moore · The Cerbat Gem

NIKE (NYSE:NKE – Get Free Report) released its quarterly earnings data on Tuesday. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18, Briefing.com reports. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the business posted $0.94 EPS. The company’s revenue was down 10.4% on a year-over-year basis.

NIKE Stock Up 0.4 %

Shares of NKE opened at $83.44 on Thursday. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $80.50 and a two-hundred day simple moving average of $86.39. The company has a market capitalization of $125.94 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several recent research reports. Robert W. Baird lifted their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 target price on shares of NIKE in a report on Friday, September 20th. TD Cowen increased their price target on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday. Citigroup dropped their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Finally, Stifel Nicolaus decreased their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.04.

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