Nike (NYSE:NKE) will issue its quarterly earnings data after the market closes on Tuesday, September 25th. Analysts expect the company to announce earnings of $0.61 per share for the quarter.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 28th. The footwear maker reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Nike had a return on equity of 36.57% and a net margin of 5.31%. The company had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, analysts expect Nike to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of NYSE:NKE opened at $83.26 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.63 and a current ratio of 2.51. Nike has a 12-month low of $50.35 and a 12-month high of $83.93. The firm has a market cap of $132.85 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.77 and a beta of 0.70.
Nike announced that its Board of Directors has initiated a stock repurchase plan on Thursday, June 28th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the footwear maker to repurchase up to 12.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, August 31st. Nike’s dividend payout ratio (DPR) is currently 33.06%.
Several analysts have issued reports on NKE shares. Credit Suisse Group reissued a “buy” rating and set a $78.00 target price on shares of Nike in a research note on Thursday, June 14th. HSBC set a $92.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Thursday, September 6th. Susquehanna Bancshares raised shares of Nike from a “neutral” rating to a “positive” rating and boosted their target price for the company from $78.00 to $93.00 in a research note on Monday, August 20th. UBS Group downgraded shares of Nike from a “buy” rating to a “neutral” rating and boosted their target price for the company from $76.00 to $78.00 in a research note on Thursday, June 21st. Finally, Wells Fargo & Co set a $82.00 target price on shares of Nike and gave the company a “neutral” rating in a research note on Monday, August 6th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $80.21.
In related news, EVP Monique S. Matheson sold 17,000 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total value of $1,413,550.00. Following the completion of the sale, the executive vice president now directly owns 104,737 shares in the company, valued at $8,708,881.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Campion sold 2,907 shares of the company’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $76.85, for a total transaction of $223,402.95. The disclosure for this sale can be found here. Insiders sold 332,778 shares of company stock valued at $26,325,376 over the last quarter. 3.90% of the stock is currently owned by corporate 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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