Brokerages Expect Nike Inc (NKE) Will Announce Quarterly Sales of $9.50 Billion
Equities analysts expect that Nike Inc (NYSE:NKE) will report $9.50 billion in sales for the current quarter, Zacks reports. Nine analysts have provided estimates for Nike’s earnings, with estimates ranging from $9.37 billion to $9.57 billion. Nike reported sales of $8.98 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The firm is expected to report its next quarterly earnings results on Thursday, March 28th.
On average, analysts expect that Nike will report full year sales of $39.12 billion for the current year, with estimates ranging from $38.85 billion to $39.39 billion. For the next fiscal year, analysts expect that the company will post sales of $42.25 billion, with estimates ranging from $41.61 billion to $42.60 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover Nike.
Nike (NYSE:NKE) last posted its earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year.
NKE traded down $0.89 on Thursday, hitting $83.95. The company had a trading volume of 8,552,160 shares, compared to its average volume of 6,580,331. Nike has a 12-month low of $63.21 and a 12-month high of $86.04. The firm has a market capitalization of $133.10 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 2.61 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.14 and a quick ratio of 1.40.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be given a $0.22 dividend. The ex-dividend date is Friday, March 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.05%. Nike’s dividend payout ratio is currently 36.36%.
In related news, EVP John F. Slusher sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total value of $14,810,000.00. Following the sale, the executive vice president now owns 284,805 shares in the company, valued at $21,089,810.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $82.00, for a total value of $12,300,000.00. Following the completion of the transaction, the chairman now directly owns 1,539,963 shares of the company’s stock, valued at $126,276,966. The disclosure for this sale can be found here. In the last quarter, insiders sold 800,000 shares of company stock worth $61,862,000. 3.90% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Nike by 1.2% in the third quarter. Vanguard Group Inc. now owns 102,670,288 shares of the footwear maker’s stock valued at $8,698,227,000 after acquiring an additional 1,207,986 shares during the period. Vanguard Group Inc raised its stake in shares of Nike by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after buying an additional 1,207,986 shares during the period. BlackRock Inc. raised its stake in shares of Nike by 4.3% during the 4th quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock worth $6,395,928,000 after buying an additional 3,592,186 shares during the period. Capital Research Global Investors raised its stake in shares of Nike by 0.7% during the 3rd quarter. Capital Research Global Investors now owns 54,349,821 shares of the footwear maker’s stock worth $4,604,517,000 after buying an additional 354,981 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Nike by 6,517.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock worth $476,000 after buying an additional 34,749,961 shares during the period. 64.97% of the stock is owned by institutional investors.
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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