Equities research analysts expect Nike (NYSE:NKE) to announce sales of $9.39 billion for the current fiscal quarter, according to Zacks. Twelve analysts have issued estimates for Nike’s earnings. The lowest sales estimate is $9.32 billion and the highest is $9.54 billion. Nike posted sales of $8.68 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 8.2%. The company is expected to issue its next earnings report on Thursday, July 5th.
On average, analysts expect that Nike will report full-year sales of $35.99 billion for the current fiscal year, with estimates ranging from $35.76 billion to $36.15 billion. For the next year, analysts anticipate that the firm will report sales of $38.69 billion per share, with estimates ranging from $38.26 billion to $39.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Nike.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.15. Nike had a net margin of 5.11% and a return on equity of 33.38%. The business had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $8.85 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. Nike’s revenue for the quarter was up 6.5% compared to the same quarter last year.
NKE has been the subject of several recent analyst reports. Telsey Advisory Group upped their target price on shares of Nike from $61.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, December 18th. Buckingham Research upped their target price on shares of Nike from $64.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Citigroup reaffirmed a “buy” rating and issued a $74.00 target price on shares of Nike in a research note on Tuesday, December 19th. Canaccord Genuity upped their target price on shares of Nike from $50.00 to $64.00 and gave the company a “hold” rating in a research note on Tuesday, December 19th. Finally, Zacks Investment Research raised shares of Nike from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Tuesday, December 19th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have assigned a buy rating to the stock. Nike currently has a consensus rating of “Hold” and an average price target of $68.55.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the completion of the sale, the chairman now owns 1,637,736 shares in the company, valued at $114,641,520. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eric D. Sprunk sold 100,000 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the sale, the insider now owns 227,199 shares of the company’s stock, valued at approximately $15,372,284.34. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Wagner Wealth Management LLC bought a new position in Nike during the fourth quarter worth about $103,000. D.B. Root & Company LLC bought a new position in Nike during the fourth quarter worth about $572,000. Rehmann Capital Advisory Group increased its position in Nike by 16.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 8,409 shares of the footwear maker’s stock worth $526,000 after acquiring an additional 1,185 shares during the period. KCM Investment Advisors LLC increased its position in Nike by 0.9% during the fourth quarter. KCM Investment Advisors LLC now owns 178,275 shares of the footwear maker’s stock worth $11,151,000 after acquiring an additional 1,506 shares during the period. Finally, Colonial Trust Advisors increased its position in Nike by 22.5% during the fourth quarter. Colonial Trust Advisors now owns 170,288 shares of the footwear maker’s stock worth $10,652,000 after acquiring an additional 31,310 shares during the period. Hedge funds and other institutional investors own 65.64% of the company’s stock.
NYSE:NKE traded down $0.01 during trading hours on Friday, hitting $67.24. The stock had a trading volume of 4,259,915 shares, compared to its average volume of 8,026,233. Nike has a one year low of $50.35 and a one year high of $70.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.73 and a current ratio of 2.66. The company has a market capitalization of $109,411.65, a PE ratio of 26.78, a PEG ratio of 2.84 and a beta of 0.65.
The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 5th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Friday, March 2nd. Nike’s dividend payout ratio is currently 31.87%.
About Nike
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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