NIKE (NYSE:NKE) Posts Earnings Results, Beats Estimates By $0.18 EPS

by · The Markets Daily

NIKE (NYSE:NKE – Get Free Report) issued 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. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share.

NIKE Price Performance

Shares of NKE opened at $82.62 on Thursday. The firm has a market capitalization of $124.70 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The company’s fifty day moving average price is $80.50 and its 200-day moving average price is $86.39.

NIKE Announces Dividend

The company also recently declared 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 1.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, 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 Analysts Forecast Growth

Several research firms recently commented on NKE. Barclays dropped their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday. Jefferies Financial Group lifted their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and lifted their price target for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Finally, Sanford C. Bernstein dropped their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.04.

Check Out Our Latest Report on NIKE

About NIKE

(Get Free Report)

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.

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