NIKE (NYSE:NKE) Issues Earnings Results, Beats Estimates By $0.15 EPS

NIKE (NYSE:NKE) announced its quarterly earnings data on Thursday. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15, Zacks reports. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS.

NIKE Price Performance

Shares of NIKE stock traded up $0.20 during midday trading on Thursday, hitting $77.10. 19,973,981 shares of the company were exchanged, compared to its average volume of 11,521,860. The firm has a 50 day simple moving average of $78.28 and a 200-day simple moving average of $80.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market cap of $115.60 billion, a P/E ratio of 22.09, a PEG ratio of 1.89 and a beta of 1.02. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE Increases Dividend

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

Analysts Set New Price Targets

NKE has been the subject of several recent research reports. TD Cowen cut their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday. Barclays cut their price objective on shares of NIKE from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group upped their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada reduced their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $93.15.

About NIKE

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.