FY2017 Earnings Forecast for Nike Inc (NKE) Issued By Jefferies Group

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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Earnings History and Estimates for Nike (NYSE:NKE)

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%.

About Nike

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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