Equities research analysts expect Nike Inc (NYSE:NKE) to announce $10.17 billion in sales for the current quarter, Zacks reports. Nine analysts have made estimates for Nike’s earnings, with estimates ranging from $10.10 billion to $10.30 billion. Nike reported sales of $9.79 billion during the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The company is expected to issue its next earnings report on Thursday, June 27th.
According to Zacks, analysts expect that Nike will report full-year sales of $39.10 billion for the current financial year, with estimates ranging from $39.03 billion to $39.23 billion. For the next year, analysts expect that the company will post sales of $42.42 billion, with estimates ranging from $42.03 billion to $43.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Nike.
Nike (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.03. Nike had a net margin of 10.79% and a return on equity of 45.78%. The business had revenue of $9.61 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue was up 7.0% on a year-over-year basis.
Several analysts have recently weighed in on NKE shares. Cowen upgraded shares of Nike from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $90.00 in a research report on Tuesday, January 22nd. Rowe upgraded shares of Nike from a “sell” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Friday, February 8th. Oppenheimer lifted their target price on shares of Nike from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 8th. UBS Group restated a “neutral” rating and issued a $86.00 price target on shares of Nike in a research report on Friday, February 15th. Finally, Wedbush boosted their price target on shares of Nike from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $87.10.
In other news, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $85.02, for a total transaction of $9,352,200.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 16,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. Insiders have sold 166,504 shares of company stock worth $14,320,816 over the last quarter. 3.90% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc boosted its holdings in Nike by 1.2% during the third quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after purchasing an additional 1,207,986 shares during the last quarter. BlackRock Inc. increased its position in Nike by 4.3% during the fourth quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock worth $6,395,928,000 after acquiring an additional 3,592,186 shares during the period. Oregon Public Employees Retirement Fund increased its position in Nike by 6,517.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock worth $476,000 after acquiring an additional 34,749,961 shares during the period. Northern Trust Corp increased its position in Nike by 2.4% during the fourth quarter. Northern Trust Corp now owns 20,985,790 shares of the footwear maker’s stock worth $1,555,886,000 after acquiring an additional 491,974 shares during the period. Finally, Jennison Associates LLC increased its position in Nike by 16.2% during the first quarter. Jennison Associates LLC now owns 20,700,453 shares of the footwear maker’s stock worth $1,743,185,000 after acquiring an additional 2,881,738 shares during the period. Institutional investors own 65.94% of the company’s stock.
Shares of Nike stock opened at $84.01 on Thursday. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. Nike has a twelve month low of $66.53 and a twelve month high of $90.00. The stock has a market cap of $129.72 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.48 and a beta of 0.67.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.05%. Nike’s payout ratio is 36.36%.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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