Nike Inc (NYSE:NKE) – Analysts at Jefferies Financial Group issued their Q1 2020 earnings per share (EPS) estimates for Nike in a research note issued on Friday, June 28th. Jefferies Financial Group analyst R. Konik forecasts that the footwear maker will earn $0.68 per share for the quarter. Jefferies Financial Group also issued estimates for Nike’s Q2 2020 earnings at $0.61 EPS, Q3 2020 earnings at $0.78 EPS, Q4 2020 earnings at $0.78 EPS, FY2020 earnings at $2.85 EPS and FY2021 earnings at $3.40 EPS.
A number of other equities analysts have also commented on NKE. Zacks Investment Research lowered Nike from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Pivotal Research set a $101.00 price objective on Nike and gave the stock a “buy” rating in a research note on Friday, June 28th. Macquarie set a $89.00 price objective on Nike and gave the stock a “buy” rating in a research note on Friday, June 28th. Goldman Sachs Group set a $83.00 price objective on Nike and gave the stock a “neutral” rating in a research note on Monday. Finally, Deutsche Bank restated a “buy” rating and set a $100.00 price objective on shares of Nike in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $89.55.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.04). The firm had revenue of $10.18 billion for the quarter, compared to analyst estimates of $10.15 billion. Nike had a return on equity of 45.12% and a net margin of 10.30%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.88 annualized dividend and a dividend yield of 1.04%. Nike’s payout ratio is 35.34%.
In other news, insider Eric D. Sprunk sold 40,004 shares of Nike stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $87.82, for a total value of $3,513,151.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. raised its position in Nike by 11.1% in the 4th quarter. Advisors Asset Management Inc. now owns 4,174 shares of the footwear maker’s stock valued at $309,000 after purchasing an additional 418 shares during the last quarter. Eagle Ridge Investment Management raised its position in Nike by 0.6% in the 4th quarter. Eagle Ridge Investment Management now owns 129,317 shares of the footwear maker’s stock valued at $9,588,000 after purchasing an additional 749 shares during the last quarter. Lindbrook Capital LLC purchased a new stake in Nike in the 4th quarter valued at $222,000. Toronto Dominion Bank raised its position in Nike by 2.6% in the 4th quarter. Toronto Dominion Bank now owns 1,011,968 shares of the footwear maker’s stock valued at $75,017,000 after purchasing an additional 25,739 shares during the last quarter. Finally, LPL Financial LLC raised its position in Nike by 6.3% in the 4th quarter. LPL Financial LLC now owns 216,012 shares of the footwear maker’s stock valued at $16,015,000 after purchasing an additional 12,759 shares during the last quarter. Institutional investors own 65.60% of the company’s stock.
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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