NIKE, Inc. (NYSE:NKE) Receives $94.04 Consensus Target Price from Brokerages

Shares of NIKE, Inc. (NYSE:NKE) have received a consensus rating of “Moderate Buy” from the twenty-nine brokerages that are covering the stock, Marketbeat.com reports. Fourteen equities research analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $89.77.

NKE has been the subject of several recent analyst reports. Sanford C. Bernstein lowered their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Royal Bank of Canada dropped their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. reduced their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Needham & Company LLC reissued a “buy” rating and set a $84.00 price target on shares of NIKE in a research report on Friday. Finally, Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th.

NIKE Stock Down 0.2 %

NYSE NKE opened at $76.94 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE has a fifty-two week low of $70.75 and a fifty-two week high of $123.30. The business has a 50 day moving average price of $78.07 and a two-hundred day moving average price of $80.55. The stock has a market cap of $115.36 billion, a PE ratio of 22.05, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.08%. NIKE’s dividend payout ratio is 45.85%.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently made changes to their positions in the business. Teachers Insurance & Annuity Association of America bought a new stake in NIKE during the 3rd quarter valued at $30,000. VitalStone Financial LLC lifted its holdings in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Dunhill Financial LLC grew its position in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares in the last quarter. Riverview Trust Co acquired a new position in NIKE during the 3rd quarter valued at about $52,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of NIKE during the 2nd quarter worth about $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.