Nike Inc (NYSE:NKE) – Equities researchers at Oppenheimer raised their Q4 2019 earnings per share (EPS) estimates for Nike in a note issued to investors on Friday, February 8th. Oppenheimer analyst B. Nagel now anticipates that the footwear maker will earn $0.84 per share for the quarter, up from their previous estimate of $0.83. Oppenheimer has a “Outperform” rating and a $100.00 price objective on the stock. Oppenheimer also issued estimates for Nike’s Q3 2020 earnings at $0.79 EPS and Q4 2020 earnings at $1.01 EPS.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.06. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. Nike had a net margin of 5.66% and a return on equity of 44.85%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS.
A number of other research analysts also recently commented on the stock. Morgan Stanley set a $103.00 target price on shares of Nike and gave the company a “buy” rating in a research report on Tuesday, December 11th. Bank of America set a $55.00 target price on shares of Nike and gave the company a “sell” rating in a research report on Sunday, December 30th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $85.00 target price on shares of Nike in a research report on Thursday, December 27th. UBS Group reaffirmed a “neutral” rating on shares of Nike in a research report on Friday, November 16th. Finally, Robert W. Baird downgraded shares of Nike from an “outperform” rating to a “neutral” rating and set a $76.62 target price on the stock. in a research report on Wednesday, January 9th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. Nike currently has a consensus rating of “Buy” and an average target price of $84.19.
NYSE NKE opened at $83.68 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.40 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $129.62 billion, a P/E ratio of 34.58, a P/E/G ratio of 2.54 and a beta of 0.69. Nike has a 12 month low of $63.21 and a 12 month high of $86.04.
In other Nike news, CEO Mark G. Parker sold 150,000 shares of the firm’s stock in a transaction on Friday, January 18th. The shares were sold at an average price of $80.00, for a total transaction of $12,000,000.00. Following the transaction, the chief executive officer now directly owns 1,687,863 shares of the company’s stock, valued at approximately $135,029,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 200,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the transaction, the executive vice president now directly owns 284,805 shares in the company, valued at $21,089,810.25. The disclosure for this sale can be found here. Insiders have sold a total of 800,000 shares of company stock worth $61,862,000 over the last three months. 3.90% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in NKE. Gemmer Asset Management LLC lifted its stake in shares of Nike by 54.2% in the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the period. Acima Private Wealth LLC acquired a new stake in shares of Nike in the 4th quarter worth $39,000. Proffitt & Goodson Inc. acquired a new stake in shares of Nike in the 4th quarter worth $44,000. Athena Capital Advisors LLC acquired a new stake in shares of Nike in the 4th quarter worth $56,000. Finally, Ruggie Capital Group lifted its stake in shares of Nike by 40.7% in the 4th quarter. Ruggie Capital Group now owns 805 shares of the footwear maker’s stock worth $60,000 after acquiring an additional 233 shares during the period. Institutional investors own 66.93% 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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