NIKE (NYSE:NKE) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS

NIKE (NYSE:NKE) issued its quarterly earnings data on Tuesday. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18, Briefing.com reports. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share.

NIKE Price Performance

Shares of NYSE:NKE opened at $83.44 on Thursday. NIKE has a one year low of $70.75 and a one year high of $123.39. The stock has a market capitalization of $125.94 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 2.30 and a beta of 1.02. The company has a 50-day simple moving average of $80.50 and a 200-day simple moving average of $86.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.77%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NKE. Robert W. Baird lifted their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. TD Cowen increased their price objective on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday. Piper Sandler reissued a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Finally, Sanford C. Bernstein reduced their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $96.04.

NIKE Company Profile

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.