Somewhat Positive Media Coverage Somewhat Unlikely to Affect Nike (NYSE:NKE) Stock Price
Media coverage about Nike (NYSE:NKE) has trended somewhat positive on Monday, Accern reports. Accern rates the sentiment of media coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Nike earned a coverage optimism score of 0.19 on Accern’s scale. Accern also assigned headlines about the footwear maker an impact score of 44.8165092129742 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the headlines that may have impacted Accern’s scoring:
- Amalgamated Bank Adjusts Its Stake in Nike, Inc. (NKE) Last Quarter (footballhebdo.com)
- Amalgamated Bank Raises Its Investment in Nike, Inc. (NKE) Stock (fishinghd.com)
- See what the IHS Markit Score report has to say about Nike Inc. (finance.yahoo.com)
- 3 Reasons Under Armour, Inc. Stock Could Rise (finance.yahoo.com)
- Under Armour Stock History: Everything Investors Need to Know (finance.yahoo.com)
Several analysts recently commented on NKE shares. Nomura reiterated a “buy” rating and set a $60.00 price target on shares of Nike in a research report on Friday, June 30th. J P Morgan Chase & Co cut Nike from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $61.00 to $58.00 in a research report on Friday, June 16th. Telsey Advisory Group dropped their price target on Nike from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, June 22nd. Cowen and Company boosted their price target on Nike from $53.00 to $54.00 and gave the stock a “market perform” rating in a research report on Friday, June 30th. Finally, Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $55.06 price target for the company in a research report on Thursday, June 15th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $61.04.
Nike (NYSE:NKE) traded up 1.37% during trading on Monday, hitting $59.78. The stock had a trading volume of 5,899,971 shares. Nike has a 1-year low of $49.01 and a 1-year high of $60.53. The stock has a market cap of $98.23 billion, a PE ratio of 23.82 and a beta of 0.59. The firm’s 50-day moving average price is $58.16 and its 200-day moving average price is $55.68.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Nike will post $2.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.20%. Nike’s dividend payout ratio (DPR) is presently 28.69%.
In other news, insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the completion of the sale, the insider now owns 139,551 shares in the company, valued at approximately $8,179,084.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew Campion sold 5,722 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $59.40, for a total value of $339,886.80. Following the sale, the chief financial officer now owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. Insiders have sold a total of 492,360 shares of company stock valued at $28,485,174 in the last quarter. Insiders own 3.90% 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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