Nike Inc (NYSE:NKE) – Analysts at Jefferies Group decreased their FY2017 earnings per share estimates for shares of Nike in a research report issued on Wednesday. Jefferies Group analyst R. Konik now forecasts that the firm will earn $2.44 per share for the year, down from their prior forecast of $2.50. Jefferies Group has a “Buy” rating and a $75.00 price target on the stock. Jefferies Group also issued estimates for Nike’s Q4 2017 earnings at $0.53 EPS, Q2 2018 earnings at $0.69 EPS, Q3 2018 earnings at $0.75 EPS and Q4 2018 earnings at $0.68 EPS.
Nike (NYSE:NKE) last released its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.15. Nike had a net margin of 11.60% and a return on equity of 31.70%. The business earned $8.43 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year.
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Other equities research analysts also recently issued reports about the company. Citigroup Inc increased their price target on Nike to $66.00 in a report on Thursday. DA Davidson reaffirmed a “buy” rating and set a $66.00 price target on shares of Nike in a report on Friday, December 16th. HSBC Holdings plc raised Nike from a “hold” rating to a “buy” rating and increased their price target for the stock from $56.00 to $60.00 in a report on Monday, December 5th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price target on shares of Nike in a report on Tuesday, December 13th. Finally, Deutsche Bank AG set a $65.00 price target on Nike and gave the stock a “buy” rating in a report on Sunday, December 18th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Nike has an average rating of “Buy” and a consensus price target of $61.46.
Shares of Nike (NYSE:NKE) opened at 56.36 on Friday. The stock’s 50 day moving average is $56.45 and its 200-day moving average is $53.41. Nike has a 12-month low of $49.01 and a 12-month high of $62.64. The stock has a market cap of $93.25 billion, a price-to-earnings ratio of 24.85 and a beta of 0.44.
Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Nike during the fourth quarter valued at $463,411,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Nike during the fourth quarter valued at $165,446,000. Carmignac Gestion raised its position in Nike by 148.9% in the third quarter. Carmignac Gestion now owns 5,259,454 shares of the footwear maker’s stock valued at $276,910,000 after buying an additional 3,146,536 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Nike during the fourth quarter valued at $157,179,000. Finally, State Street Corp raised its position in Nike by 4.6% in the fourth quarter. State Street Corp now owns 58,719,250 shares of the footwear maker’s stock valued at $2,984,719,000 after buying an additional 2,563,166 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Mark G. Parker sold 100,000 shares of Nike stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $52.94, for a total value of $5,294,000.00. Following the transaction, the chairman now directly owns 1,966,235 shares of the company’s stock, valued at approximately $104,092,480.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John F. Slusher sold 136,000 shares of Nike stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $52.13, for a total value of $7,089,680.00. Following the completion of the transaction, the executive vice president now directly owns 225,165 shares in the company, valued at $11,737,851.45. The disclosure for this sale can be found here. Insiders sold a total of 636,000 shares of company stock valued at $33,477,680 in the last 90 days. 3.90% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 6th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, March 2nd. Nike’s dividend payout ratio (DPR) is 31.72%.
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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