Nike, Inc. (NKE) Expected to Post Quarterly Sales of $8.39 Billion
Wall Street analysts expect that Nike, Inc. (NYSE:NKE) will announce sales of $8.39 billion for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Nike’s earnings, with the lowest sales estimate coming in at $8.31 billion and the highest estimate coming in at $8.46 billion. Nike reported sales of $8.18 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.6%. The company is expected to announce its next quarterly earnings results on Tuesday, December 19th.
According to Zacks, analysts expect that Nike will report full-year sales of $8.39 billion for the current financial year, with estimates ranging from $35.20 billion to $36.16 billion. For the next year, analysts anticipate that the business will report sales of $38.17 billion per share, with estimates ranging from $36.71 billion to $39.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Nike.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS.
NKE has been the subject of a number of recent research reports. Morgan Stanley reissued a “buy” rating and issued a $64.00 target price (down previously from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Telsey Advisory Group reduced their target price on shares of Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 target price for the company in a research report on Wednesday, September 6th. Cowen Inc set a $54.00 target price on shares of Nike and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $55.00 target price (down previously from $56.00) on shares of Nike in a research report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.92.
Shares of Nike (NYSE NKE) traded up $0.25 during trading on Monday, hitting $59.32. 3,400,400 shares of the stock were exchanged, compared to its average volume of 9,584,150. The company has a market capitalization of $96,781.59, a PE ratio of 25.24, a PEG ratio of 2.78 and a beta of 0.60. Nike has a 52 week low of $50.06 and a 52 week high of $60.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, December 1st. This is an increase from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio is currently 30.64%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the transaction, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the transaction, the director now owns 25,660 shares in the company, valued at $1,371,527. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Asset Planning Services Ltd. lifted its stake in shares of Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the period. Willingdon Wealth Management bought a new stake in shares of Nike in the third quarter valued at about $114,000. Atlantic Trust LLC bought a new stake in shares of Nike in the second quarter valued at about $136,000. Kistler Tiffany Companies LLC boosted its position in shares of Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after acquiring an additional 1,209 shares during the period. Finally, Howe & Rusling Inc. boosted its position in shares of Nike by 751.3% in the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after acquiring an additional 2,329 shares during the period. Hedge funds and other institutional investors own 62.02% of the company’s stock.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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