B. Riley Analysts Raise Earnings Estimates for Nike Inc (NKE)

Nike Inc (NYSE:NKE) – Analysts at B. Riley increased their FY2017 earnings per share estimates for Nike in a report issued on Wednesday, Zacks Investment Research reports. B. Riley analyst M. Kummetz now forecasts that the footwear maker will post earnings of $2.41 per share for the year, up from their previous estimate of $2.35. B. Riley has a “Neutral” rating and a $56.00 price target on the stock. B. Riley also issued estimates for Nike’s Q4 2017 earnings at $0.50 EPS, FY2018 earnings at $2.50 EPS and FY2019 earnings at $2.70 EPS.

Other equities research analysts have also issued reports about the company. Citigroup Inc upped their price objective on Nike to $66.00 in a research note on Thursday, March 23rd. Argus set a $55.00 price objective on Nike in a research note on Wednesday, April 5th. HSBC Holdings plc set a $64.00 price objective on Nike and gave the company a “buy” rating in a research note on Wednesday, January 11th. Jefferies Group LLC restated a “buy” rating and set a $75.00 price target on shares of Nike in a research report on Tuesday, January 3rd. Finally, Nomura set a $60.00 price target on Nike and gave the stock a “buy” rating in a research report on Tuesday, December 27th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $60.66.

Earnings History and Estimates for Nike (NYSE:NKE)

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Nike (NYSE:NKE) traded down 0.98% during mid-day trading on Thursday, reaching $55.85. The company’s stock had a trading volume of 6,055,617 shares. The company has a market capitalization of $92.20 billion, a PE ratio of 23.30 and a beta of 0.44. Nike has a 1-year low of $49.01 and a 1-year high of $60.33. The firm has a 50 day moving average price of $56.25 and a 200-day moving average price of $53.47.

Nike (NYSE:NKE) last posted its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.15. The company had revenue of $8.43 billion for the quarter, compared to analyst estimates of $8.47 billion. Nike had a return on equity of 31.70% and a net margin of 11.60%. Nike’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share.

A number of large investors have recently modified their holdings of the stock. British Columbia Investment Management Corp increased its stake in shares of Nike by 1.1% in the third quarter. British Columbia Investment Management Corp now owns 1,304,184 shares of the footwear maker’s stock valued at $68,665,000 after buying an additional 14,377 shares during the period. Vontobel Asset Management Inc. increased its stake in shares of Nike by 15.8% in the third quarter. Vontobel Asset Management Inc. now owns 3,552,726 shares of the footwear maker’s stock valued at $193,225,000 after buying an additional 485,550 shares during the period. Community Trust & Investment Co. increased its stake in shares of Nike by 1.2% in the third quarter. Community Trust & Investment Co. now owns 13,155 shares of the footwear maker’s stock valued at $693,000 after buying an additional 155 shares during the period. Gillespie Robinson & Grimm Inc. increased its stake in shares of Nike by 7.6% in the third quarter. Gillespie Robinson & Grimm Inc. now owns 381,481 shares of the footwear maker’s stock valued at $19,757,000 after buying an additional 27,055 shares during the period. Finally, PacWest Financial Management Inc increased its stake in shares of Nike by 4.1% in the third quarter. PacWest Financial Management Inc now owns 27,180 shares of the footwear maker’s stock valued at $1,431,000 after buying an additional 1,060 shares during the period. Institutional investors and hedge funds own 62.23% of the company’s stock.

In related news, Chairman Mark G. Parker sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $52.94, for a total value of $5,294,000.00. Following the completion of the sale, the chairman now directly owns 1,966,235 shares in the company, valued at approximately $104,092,480.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David J. Ayre sold 200,000 shares of the firm’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $53.08, for a total transaction of $10,616,000.00. Following the completion of the sale, the executive vice president now owns 357,713 shares of the company’s stock, valued at $18,987,406.04. The disclosure for this sale can be found here. Insiders sold a total of 665,000 shares of company stock valued at $36,333,500 over the last quarter. 3.90% of the stock is currently owned by company insiders.

The company also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Monday, March 6th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.72 annualized dividend and a yield of 1.29%. Nike’s dividend payout ratio (DPR) is currently 31.72%.

Nike Company Profile

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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