NIKE (NYSE:NKE) Announces Earnings Results

NIKE (NYSE:NKE) announced its quarterly earnings data on Thursday. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26, Briefing.com reports. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period last year, the firm earned $0.98 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis.

NIKE Price Performance

Shares of NYSE NKE opened at $68.02 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE has a 52 week low of $65.17 and a 52 week high of $98.04. The business’s 50 day moving average price is $74.70 and its 200 day moving average price is $77.46. The firm has a market cap of $100.60 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. NIKE’s dividend payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research note on Monday, March 17th. BMO Capital Markets reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Barclays reduced their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.38.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Trading of NIKE

An institutional investor recently raised its position in NIKE stock. Brighton Jones LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 388.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 202,411 shares of the footwear maker’s stock after acquiring an additional 160,980 shares during the period. Brighton Jones LLC’s holdings in NIKE were worth $15,316,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.