NIKE (NYSE:NKE) Announces Earnings Results, Beats Estimates By $0.18 EPS

NIKE (NYSE:NKE) issued its quarterly earnings results on Tuesday. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18, Briefing.com reports. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.94 EPS.

NIKE Stock Performance

NYSE:NKE opened at $82.62 on Thursday. The company has a fifty day simple moving average of $80.50 and a two-hundred day simple moving average of $86.39. The company has a market cap of $124.70 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.79%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Ratings Changes

A number of research analysts have weighed in on NKE shares. Wedbush decreased their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Morgan Stanley raised their target price on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their target price for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Royal Bank of Canada decreased their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, Telsey Advisory Group decreased their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $96.04.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.