Nike to Post FY2019 Earnings of $2.70 Per Share, Wedbush Forecasts (NKE)

Nike (NYSE:NKE) – Analysts at Wedbush upped their FY2019 EPS estimates for Nike in a research note issued on Monday, March 12th, Zacks Investment Research reports. Wedbush analyst C. Svezia now expects that the footwear maker will post earnings of $2.70 per share for the year, up from their previous estimate of $2.69. Wedbush has a “Outperform” rating and a $74.00 price target on the stock.

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A number of other analysts have also recently commented on the stock. TheStreet cut shares of Nike from a “b+” rating to a “c+” rating in a research report on Thursday, March 22nd. Argus upgraded shares of Nike from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.35 to $64.46 in a report on Thursday, December 14th. Buckingham Research set a $71.00 price objective on shares of Nike and gave the company a “buy” rating in a report on Monday, December 25th. DA Davidson upped their price objective on shares of Nike from $68.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, December 26th. Finally, Zacks Investment Research lowered shares of Nike from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $68.55.

Shares of NKE opened at $67.55 on Wednesday. The company has a current ratio of 2.66, a quick ratio of 1.73 and a debt-to-equity ratio of 0.35. The firm has a market cap of $111,315.16, a price-to-earnings ratio of 26.91, a PEG ratio of 2.91 and a beta of 0.65. Nike has a 12 month low of $50.35 and a 12 month high of $70.25.

Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 22nd. The footwear maker reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.15. The business had revenue of $8.98 billion for the quarter, compared to analysts’ expectations of $8.85 billion. Nike had a net margin of 5.11% and a return on equity of 33.38%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 5th were paid a $0.20 dividend. The ex-dividend date was Friday, March 2nd. This represents a $0.80 annualized dividend and a yield of 1.18%. Nike’s dividend payout ratio (DPR) is 31.87%.

In other news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric D. Sprunk sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the transaction, the insider now directly owns 227,199 shares of the company’s stock, valued at $15,372,284.34. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in Nike by 4,252.6% in the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after buying an additional 16,237,557 shares during the period. Capital World Investors boosted its holdings in Nike by 58.7% in the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after buying an additional 8,058,601 shares during the period. Harding Loevner LP boosted its holdings in Nike by 97.1% in the 3rd quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock worth $390,421,000 after buying an additional 5,987,728 shares during the period. Orbis Allan Gray Ltd bought a new position in Nike in the 2nd quarter worth approximately $226,588,000. Finally, Vanguard Group Inc. boosted its holdings in Nike by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock worth $5,876,718,000 after buying an additional 2,452,993 shares during the period. 65.67% of the stock is owned by hedge funds and other institutional investors.

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About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

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