Equities research analysts forecast that Nike Inc (NYSE:NKE) will announce $10.45 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Nike’s earnings, with the lowest sales estimate coming in at $10.37 billion and the highest estimate coming in at $10.62 billion. Nike posted sales of $9.95 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5%. The firm is expected to report its next earnings results after the market closes on Tuesday, September 24th.

On average, analysts expect that Nike will report full year sales of $42.21 billion for the current fiscal year, with estimates ranging from $42.03 billion to $42.35 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $45.74 billion, with estimates ranging from $45.42 billion to $46.35 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Nike.

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

Several research analysts have weighed in on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $96.00 price target on shares of Nike in a research report on Wednesday, June 19th. Macquarie set a $89.00 price objective on Nike and gave the company a “buy” rating in a report on Friday, June 28th. Bank of America raised shares of Nike to an “underperform” rating and raised their target price for the company from $60.00 to $70.00 in a research note on Monday, June 24th. Deutsche Bank set a $100.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Stifel Nicolaus set a $96.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Wednesday, August 7th. 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 stock. The stock has an average rating of “Buy” and an average target price of $90.39.

In other Nike news, Director Elizabeth J. Comstock sold 24,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 38,813 shares of the company’s stock, valued at approximately $3,292,894.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Elliott Hill sold 34,100 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $88.34, for a total transaction of $3,012,394.00. The disclosure for this sale can be found here. Insiders have sold a total of 194,637 shares of company stock valued at $16,767,237 in the last ninety days. 3.80% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Nuveen Asset Management LLC increased its stake in shares of Nike by 6,608.4% during the second quarter. Nuveen Asset Management LLC now owns 14,363,870 shares of the footwear maker’s stock worth $1,205,847,000 after purchasing an additional 14,149,753 shares during the period. FMR LLC increased its position in Nike by 27.0% during the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after buying an additional 4,908,916 shares during the period. Jennison Associates LLC increased its position in Nike by 13.6% during the 2nd quarter. Jennison Associates LLC now owns 23,510,331 shares of the footwear maker’s stock worth $1,973,692,000 after buying an additional 2,809,878 shares during the period. BlackRock Inc. increased its position in Nike by 2.2% during the 2nd quarter. BlackRock Inc. now owns 87,672,220 shares of the footwear maker’s stock worth $7,360,079,000 after buying an additional 1,883,150 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Nike by 1.4% during the second quarter. Vanguard Group Inc. now owns 105,374,269 shares of the footwear maker’s stock worth $8,846,169,000 after buying an additional 1,469,583 shares in the last quarter. Institutional investors own 65.09% of the company’s stock.

NYSE NKE traded down $1.84 during trading hours on Friday, hitting $86.83. 5,876,124 shares of the company traded hands, compared to its average volume of 6,411,690. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.10. The business’s 50-day moving average is $83.76 and its 200-day moving average is $84.71. The stock has a market capitalization of $138.97 billion, a price-to-earnings ratio of 34.87, a P/E/G ratio of 2.35 and a beta of 0.79. Nike has a twelve month low of $66.53 and a twelve month high of $90.00.

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

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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Earnings History and Estimates for Nike (NYSE:NKE)

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