NIKE (NKE) Projected to Post Quarterly Earnings on Thursday

NIKE (NYSE:NKE) is expected to be releasing its earnings data after the market closes on Thursday, March 20th. Analysts expect NIKE to post earnings of $0.28 per share and revenue of $11.02 billion for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

NIKE (NYSE:NKE) last released its quarterly earnings data 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. 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 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. On average, analysts expect NIKE to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NIKE Stock Performance

Shares of NIKE stock opened at $73.28 on Wednesday. The company has a market capitalization of $108.38 billion, a PE ratio of 22.62, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a 50-day simple moving average of $74.73 and a two-hundred day simple moving average of $77.64. NIKE has a one year low of $68.62 and a one year high of $101.92.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. NIKE’s dividend payout ratio is presently 49.38%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on 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 completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in NIKE stock. Brighton Jones LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 388.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,411 shares of the footwear maker’s stock after acquiring 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. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NKE. Robert W. Baird reduced their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. BMO Capital Markets boosted their price target on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Finally, Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.