Nike (NYSE:NKE) Posts Earnings Results, Misses Expectations By $0.04 EPS

Nike (NYSE:NKE) announced its quarterly earnings data on Thursday. The footwear maker reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.04), RTT News reports. The business had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nike had a return on equity of 45.78% and a net margin of 10.79%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share.

Nike stock traded up $1.11 during mid-day trading on Thursday, reaching $83.66. 8,690,463 shares of the company traded hands, compared to its average volume of 6,628,979. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43. The stock’s 50 day moving average price is $82.81. The stock has a market capitalization of $129.86 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 2.12 and a beta of 0.76. Nike has a 52-week low of $66.53 and a 52-week high of $90.00.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, May 31st. Nike’s payout ratio is currently 36.36%.

A number of equities research analysts recently commented on NKE shares. Wedbush upped their price target on shares of Nike from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Telsey Advisory Group upped their price target on shares of Nike from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Credit Suisse Group upped their price target on shares of Nike from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Needham & Company LLC upped their price target on shares of Nike to $92.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of Nike from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company. Nike presently has an average rating of “Buy” and an average price target of $87.81.

In other Nike news, EVP John F. Slusher sold 110,000 shares of the business’s stock in a transaction 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 filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric D. Sprunk sold 40,004 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total transaction of $3,513,151.28. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.

Nike Company Profile

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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Earnings History for Nike (NYSE:NKE)

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