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

NIKE (NYSE:NKE) posted its quarterly earnings results on Thursday. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26, Briefing.com reports. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis.

NIKE Stock Down 1.9 %

Shares of NKE opened at $71.61 on Friday. NIKE has a 52 week low of $67.09 and a 52 week high of $101.92. The firm has a market capitalization of $105.92 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a 50-day simple moving average of $74.77 and a 200-day simple moving average of $77.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE Announces Dividend

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

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 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, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A hedge fund recently raised its stake in NIKE stock. Brighton Jones LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 388.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,411 shares of the footwear maker’s stock after buying an additional 160,980 shares during the quarter. Brighton Jones LLC’s holdings in NIKE were worth $15,316,000 at the end of the most recent reporting period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several research reports. Bank of America decreased their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Guggenheim reiterated a “buy” rating and set a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. BMO Capital Markets lifted their price objective on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Finally, Evercore ISI cut their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company 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.