NIKE (NYSE:NKE) Releases Quarterly Earnings Results, Beats Estimates By $0.26 EPS

NIKE (NYSE:NKE) released its quarterly earnings data on Thursday. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26, Briefing.com reports. The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS.

NIKE Stock Down 1.9 %

NKE traded down $1.38 on Thursday, reaching $71.61. 21,094,641 shares of the company traded hands, compared to its average volume of 12,212,800. The company has a market cap of $105.92 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock’s 50 day moving average price is $74.76 and its 200-day moving average price is $77.60. NIKE has a 52-week low of $68.62 and a 52-week high of $101.92.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On NIKE

An institutional investor recently raised its position in NIKE stock. Brighton Jones LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 388.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,411 shares of the footwear maker’s stock after purchasing an additional 160,980 shares during the quarter. Brighton Jones LLC’s holdings in NIKE were worth $15,316,000 as of its most recent SEC filing. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NKE has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. China Renaissance assumed coverage on NIKE in a research note on Wednesday. They set a “hold” rating on the stock. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Guggenheim reissued a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Finally, Needham & Company LLC reduced their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $89.54.

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.