Nike, Inc. (NYSE:NKE) - Jefferies Group dropped their Q1 2018 EPS estimates for Nike in a report released on Monday. Jefferies Group analyst R. Konik now forecasts that the footwear maker will post earnings of $0.47 per share for the quarter, down from their previous forecast of $0.49. Jefferies Group currently has a “Hold” rating and a $60.00 target price on the stock. Jefferies Group also issued estimates for Nike’s Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.70 EPS, FY2018 earnings at $2.40 EPS and FY2019 earnings at $2.75 EPS.
NKE has been the subject of a number of other research reports. Piper Jaffray Companies set a $50.00 target price on Nike and gave the company a “hold” rating in a research note on Saturday, July 1st. BidaskClub upgraded Nike from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Vetr lowered Nike from a “buy” rating to a “hold” rating and set a $54.16 target price for the company. in a research note on Monday, June 5th. Robert W. Baird reiterated an “outperform” rating and issued a $62.00 target price on shares of Nike in a research note on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $58.00 target price (down previously from $63.00) on shares of Nike in a research note on Monday. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $60.54.
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Shares of Nike (NKE) opened at 53.61 on Tuesday. The firm’s 50 day moving average is $58.22 and its 200 day moving average is $55.81. The stock has a market capitalization of $88.09 billion, a price-to-earnings ratio of 21.36 and a beta of 0.59. Nike has a 52-week low of $49.01 and a 52-week high of $60.53.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 earnings per share.
Several institutional investors have recently modified their holdings of NKE. Personal Capital Advisors Corp boosted its position in shares of Nike by 15.5% in the first quarter. Personal Capital Advisors Corp now owns 83,943 shares of the footwear maker’s stock worth $4,758,000 after buying an additional 11,288 shares during the last quarter. Adviser Investments LLC bought a new position in shares of Nike during the first quarter worth about $2,645,000. North Star Asset Management Inc. boosted its position in shares of Nike by 7.8% in the first quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock worth $3,162,000 after buying an additional 4,129 shares during the last quarter. Summit Global Investments bought a new position in shares of Nike during the first quarter worth about $508,000. Finally, Lederer & Associates Investment Counsel CA boosted its position in shares of Nike by 1.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 6,330 shares of the footwear maker’s stock worth $353,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 63.47% of the company’s stock.
In related news, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction on Friday, June 30th. The stock was sold at an average price of $56.68, for a total value of $5,455,053.24. Following the transaction, the chief financial officer now directly owns 50,246 shares in the company, valued at approximately $2,847,943.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Trevor A. Edwards sold 200,000 shares of Nike stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total value of $11,526,000.00. Following the completion of the transaction, the insider now owns 729,610 shares in the company, valued at $42,047,424.30. The disclosure for this sale can be found here. Insiders sold a total of 492,360 shares of company stock worth $28,485,174 over the last 90 days. Insiders own 3.90% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Thursday, August 31st. Nike’s payout ratio is 28.69%.
About Nike
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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