Nike (NKE) Announces Quarterly Earnings Results
Nike (NYSE:NKE) issued its earnings results on Tuesday. The footwear maker reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04, RTT News reports. Nike had a net margin of 5.31% and a return on equity of 36.57%. The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.92 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis.
NKE traded up $0.52 during trading hours on Tuesday, hitting $84.79. 9,971,307 shares of the company’s stock were exchanged, compared to its average volume of 7,130,425. Nike has a 1-year low of $50.35 and a 1-year high of $86.04. The stock has a market capitalization of $136.93 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 2.85 and a beta of 0.70. The company has a current ratio of 2.51, a quick ratio of 1.63 and a debt-to-equity ratio of 0.35.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Tuesday, September 4th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, August 31st. Nike’s payout ratio is 33.06%.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction on Monday, July 30th. The shares were sold at an average price of $76.07, for a total value of $760,700.00. Following the completion of the sale, the executive vice president now owns 86,774 shares in the company, valued at $6,600,898.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Hilary K. Krane sold 40,000 shares of the stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $76.51, for a total transaction of $3,060,400.00. The disclosure for this sale can be found here. Insiders have sold 365,778 shares of company stock valued at $29,131,176 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.
Nike declared that its Board of Directors has approved a stock buyback program on Thursday, June 28th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the footwear maker to reacquire up to 12.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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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