Analysts Expect Nike Inc (NYSE:NKE) to Announce $0.71 EPS

Analysts forecast that Nike Inc (NYSE:NKE) will post earnings per share of $0.71 for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Nike’s earnings, with estimates ranging from $0.68 to $0.75. Nike reported earnings of $0.67 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The firm is expected to report its next earnings report after the market closes on Tuesday, September 24th.

According to Zacks, analysts expect that Nike will report full year earnings of $2.90 per share for the current financial year, with EPS estimates ranging from $2.85 to $3.00. For the next financial year, analysts forecast that the business will post earnings of $3.43 per share, with EPS estimates ranging from $3.25 to $3.62. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Nike.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). The company had revenue of $10.18 billion during the quarter, compared to analyst estimates of $10.15 billion. Nike had a return on equity of 45.12% and a net margin of 10.30%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share.

A number of research firms have commented on NKE. Morgan Stanley upped their price target on Nike from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Bank of America raised Nike to an “underperform” rating and lifted their price objective for the company from $60.00 to $70.00 in a research note on Monday, June 24th. JPMorgan Chase & Co. boosted their price objective on Nike from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Canaccord Genuity reissued a “buy” rating and set a $96.00 target price on shares of Nike in a research note on Wednesday, June 19th. Finally, Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating and set a $95.00 target price for the company in a report on Monday, May 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $90.39.

In other Nike news, CAO Hilary K. Krane sold 17,903 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $88.70, for a total value of $1,587,996.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Elizabeth J. Comstock sold 24,000 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total value of $2,036,160.00. Following the completion of the sale, the director now owns 38,813 shares in the company, valued at $3,292,894.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 194,637 shares of company stock worth $16,767,237. 3.80% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Nike by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,507,942 shares of the footwear maker’s stock valued at $260,074,000 after purchasing an additional 69,032 shares during the last quarter. World Asset Management Inc grew its position in shares of Nike by 4.4% in the 1st quarter. World Asset Management Inc now owns 91,048 shares of the footwear maker’s stock valued at $7,667,000 after buying an additional 3,868 shares during the last quarter. Pettyjohn Wood & White Inc. grew its position in shares of Nike by 8.7% in the 1st quarter. Pettyjohn Wood & White Inc. now owns 3,996 shares of the footwear maker’s stock valued at $337,000 after buying an additional 321 shares during the last quarter. CENTRAL TRUST Co raised its stake in Nike by 3.4% during the 1st quarter. CENTRAL TRUST Co now owns 44,928 shares of the footwear maker’s stock worth $3,783,000 after acquiring an additional 1,481 shares in the last quarter. Finally, FTB Advisors Inc. raised its stake in Nike by 197.9% during the 1st quarter. FTB Advisors Inc. now owns 3,301 shares of the footwear maker’s stock worth $277,000 after acquiring an additional 2,193 shares in the last quarter. 65.09% of the stock is owned by institutional investors and hedge funds.

Nike stock traded down $1.84 during trading on Thursday, hitting $86.83. The company had a trading volume of 5,876,124 shares, compared to its average volume of 6,411,690. The stock has a market cap of $138.97 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of 2.35 and a beta of 0.79. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. Nike has a 1-year low of $66.53 and a 1-year high of $90.00. The company’s 50 day simple moving average is $83.76 and its 200-day simple moving average is $84.71.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.01%. Nike’s payout ratio is 35.34%.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Earnings History and Estimates for Nike (NYSE:NKE)

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