Brokerages Anticipate Nike Inc (NKE) to Announce $0.67 EPS

Analysts expect Nike Inc (NYSE:NKE) to report earnings of $0.67 per share for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Nike’s earnings, with estimates ranging from $0.61 to $0.73. Nike posted earnings per share of $0.69 during the same quarter last year, which indicates a negative year over year growth rate of 2.9%. The company is expected to announce its next earnings report on Thursday, June 27th.

On average, analysts expect that Nike will report full year earnings of $2.55 per share for the current year, with EPS estimates ranging from $2.49 to $2.64. For the next financial year, analysts expect that the firm will report earnings of $3.03 per share, with EPS estimates ranging from $2.90 to $3.16. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Nike.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. Nike had a return on equity of 45.78% and a net margin of 10.79%. The firm had revenue of $9.61 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year.

Several brokerages have recently commented on NKE. Zacks Investment Research lowered Nike from a “buy” rating to a “hold” rating in a report on Monday, March 25th. UBS Group decreased their price objective on Nike from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. JPMorgan Chase & Co. reiterated a “buy” rating and set a $90.00 price objective on shares of Nike in a report on Friday, April 12th. Credit Suisse Group reiterated a “buy” rating and set a $97.00 price objective on shares of Nike in a report on Friday, March 22nd. Finally, Canaccord Genuity set a $96.00 price objective on Nike and gave the company a “buy” rating in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have issued a buy rating to the stock. Nike presently has a consensus rating of “Buy” and a consensus target price of $87.10.

Shares of NKE traded up $0.29 during midday trading on Tuesday, hitting $84.57. 5,066,543 shares of the company’s stock traded hands, compared to its average volume of 6,826,714. Nike has a 1 year low of $66.53 and a 1 year high of $90.00. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. The firm has a market cap of $132.92 billion, a PE ratio of 34.95, a P/E/G ratio of 2.54 and a beta of 0.67.

The business also recently declared 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 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, May 31st. Nike’s dividend payout ratio is currently 36.36%.

In other Nike news, insider Eric D. Sprunk sold 40,004 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $87.82, for a total transaction of $3,513,151.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John F. Slusher sold 110,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $85.02, for a total value of $9,352,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 166,504 shares of company stock worth $14,320,816 over the last ninety days. 3.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NKE. Oregon Public Employees Retirement Fund grew its position in Nike by 6,517.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock worth $476,000 after purchasing an additional 34,749,961 shares during the period. Norges Bank acquired a new stake in Nike during the 4th quarter worth about $892,899,000. FMR LLC grew its position in Nike by 27.0% during the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after purchasing an additional 4,908,916 shares during the period. BlackRock Inc. grew its position in Nike by 4.3% during the 4th quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock worth $6,395,928,000 after purchasing an additional 3,592,186 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in Nike during the 4th quarter worth about $224,658,000. 65.94% of the stock is currently owned by institutional investors.

About Nike

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 and Estimates for Nike (NYSE:NKE)

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