FY2020 EPS Estimates for Nike Inc Lowered by Analyst (NYSE:NKE)
Nike Inc (NYSE:NKE) – Equities researchers at Piper Sandler decreased their FY2020 earnings per share estimates for shares of Nike in a research note issued to investors on Monday, March 23rd. Piper Sandler analyst E. Murphy now forecasts that the footwear maker will post earnings per share of $2.42 for the year, down from their prior estimate of $2.65. Piper Sandler also issued estimates for Nike’s Q1 2021 earnings at $0.72 EPS and Q2 2021 earnings at $0.76 EPS.
A number of other brokerages also recently weighed in on NKE. Wedbush boosted their target price on Nike from $91.00 to $93.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America upgraded Nike from a “neutral” rating to a “buy” rating and cut their target price for the stock from $105.00 to $85.00 in a research note on Friday, March 20th. Robert W. Baird lifted their price target on shares of Nike from $92.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. HSBC cut shares of Nike from a “buy” rating to a “hold” rating and set a $112.00 price target on the stock. in a report on Wednesday, February 26th. They noted that the move was a valuation call. Finally, Oppenheimer initiated coverage on shares of Nike in a report on Thursday, February 6th. They issued a “buy” rating and a $115.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $97.79.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.19. Nike had a return on equity of 50.03% and a net margin of 11.21%. The firm had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $9.56 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The company’s revenue was up 5.1% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.245 per share. The ex-dividend date is Friday, February 28th. This represents a $0.98 dividend on an annualized basis and a yield of 1.24%. Nike’s payout ratio is 39.36%.
In other Nike news, EVP Monique S. Matheson sold 16,500 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $101.54, for a total transaction of $1,675,410.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Hilary K. Krane sold 28,000 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $101.00, for a total transaction of $2,828,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 271,916 shares of company stock worth $27,686,864 in the last three months. Insiders own 3.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. FMR LLC grew its position in shares of Nike by 4.5% during the 4th quarter. FMR LLC now owns 30,077,288 shares of the footwear maker’s stock valued at $3,047,131,000 after purchasing an additional 1,302,351 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nike by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 20,884,664 shares of the footwear maker’s stock valued at $2,112,370,000 after purchasing an additional 775,291 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Nike by 36.5% during the 4th quarter. Alliancebernstein L.P. now owns 15,559,748 shares of the footwear maker’s stock valued at $1,576,358,000 after purchasing an additional 4,159,675 shares in the last quarter. Norges Bank purchased a new position in shares of Nike during the 4th quarter valued at $1,314,457,000. Finally, Polen Capital Management LLC grew its position in shares of Nike by 3.1% during the 4th quarter. Polen Capital Management LLC now owns 10,881,540 shares of the footwear maker’s stock valued at $1,102,409,000 after purchasing an additional 330,620 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.
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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