Nike Inc (NYSE:NKE) – Investment analysts at Piper Sandler lifted their Q3 2021 EPS estimates for shares of Nike in a report issued on Thursday, June 25th. Piper Sandler analyst E. Murphy now anticipates that the footwear maker will post earnings of $0.86 per share for the quarter, up from their previous estimate of $0.83. Piper Sandler has a “Overweight” rating and a $112.00 price target on the stock. Piper Sandler also issued estimates for Nike’s Q4 2021 earnings at $0.70 EPS, Q2 2022 earnings at $0.73 EPS, Q4 2022 earnings at $0.85 EPS and FY2023 earnings at $3.74 EPS.
A number of other brokerages also recently commented on NKE. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $118.00 target price on shares of Nike in a report on Friday. BTIG Research boosted their price target on Nike from $108.00 to $117.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Sanford C. Bernstein boosted their price target on Nike from $101.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday. Deutsche Bank boosted their price target on Nike from $84.00 to $87.00 and gave the stock a “hold” rating in a research note on Monday, June 15th. Finally, Morgan Stanley boosted their price target on Nike from $92.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have assigned a buy rating to the company. Nike currently has an average rating of “Buy” and an average price target of $108.96.
Shares of Nike stock opened at $95.87 on Monday. The company has a market capitalization of $148.25 billion, a PE ratio of 60.68, a P/E/G ratio of 3.05 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.20 and a current ratio of 1.90. The company has a 50-day simple moving average of $96.23 and a two-hundred day simple moving average of $93.53. Nike has a one year low of $60.00 and a one year high of $105.62.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.53). The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $7.26 billion. Nike had a return on equity of 31.93% and a net margin of 6.79%. The business’s revenue for the quarter was down 38.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share.
Several hedge funds have recently made changes to their positions in NKE. Sowa Financial Group Inc. acquired a new position in shares of Nike during the 4th quarter worth approximately $27,000. Kessler Investment Group LLC acquired a new position in Nike in the 1st quarter valued at $27,000. Stuart Chaussee & Associates Inc. raised its stake in Nike by 668.9% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 301 shares during the last quarter. Perennial Advisors LLC acquired a new position in Nike in the 1st quarter valued at $30,000. Finally, Sugarloaf Wealth Management LLC raised its stake in Nike by 68.9% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 402 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 164 shares during the last quarter. 64.54% of the stock is owned by institutional investors and hedge funds.
In other Nike news, Director John W. Rogers, Jr. bought 1,000 shares of Nike stock in a transaction dated Friday, April 3rd. The stock was acquired at an average cost of $84.63 per share, with a total value of $84,630.00. Following the purchase, the director now directly owns 12,851 shares in the company, valued at approximately $1,087,580.13. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 165,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $99.14, for a total value of $16,358,100.00. Following the transaction, the chairman now directly owns 2,012,954 shares of the company’s stock, valued at $199,564,259.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 236,000 shares of company stock worth $23,228,100. Insiders own 3.80% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.245 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 annualized dividend and a yield of 1.02%. Nike’s dividend payout ratio is presently 52.97%.
Nike Company Profile
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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