Evercore ISI Lowers NIKE (NYSE:NKE) Price Target to $97.00

NIKE (NYSE:NKE) had its target price reduced by Evercore ISI from $105.00 to $97.00 in a research report report published on Monday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the footwear maker’s stock.

Other research analysts have also recently issued reports about the stock. Bank of America dropped their target price on shares of NIKE from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. JPMorgan Chase & Co. dropped their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. UBS Group decreased their target price on NIKE from $82.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company decreased their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.15.

NIKE Stock Performance

NKE stock opened at $76.90 on Monday. The business has a 50 day moving average of $78.28 and a 200-day moving average of $80.80. The firm has a market cap of $115.30 billion, a PE ratio of 22.03, a P/E/G ratio of 1.89 and a beta of 1.02. NIKE has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the firm posted $0.94 EPS. As a group, sell-side analysts expect that NIKE will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Garrison Point Advisors LLC lifted its position in NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares during the last quarter. Stephens Consulting LLC raised its position in shares of NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after buying an additional 128 shares in the last quarter. PSI Advisors LLC lifted its holdings in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares during the last quarter. Chapin Davis Inc. grew its position in NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC increased its stake in NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after acquiring an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.