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

NIKE (NYSE:NKE) posted its earnings results on Thursday. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the business earned $0.98 earnings per share. NIKE’s quarterly revenue was down 9.1% compared to the same quarter last year.

NIKE Stock Down 1.9 %

Shares of NKE traded down $1.38 during trading on Thursday, reaching $71.61. The company’s stock had a trading volume of 21,094,641 shares, compared to its average volume of 12,212,800. NIKE has a twelve month low of $68.62 and a twelve month high of $101.92. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $105.92 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a fifty day moving average of $74.76 and a two-hundred day moving average of $77.60.

NIKE Announces Dividend

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

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the 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 acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

A hedge fund recently raised its stake in NIKE stock. Brighton Jones LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 388.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,411 shares of the footwear maker’s stock after purchasing 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Robert W. Baird dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. BMO Capital Markets boosted their target price on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company cut their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target 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.