FBR & Co Brokers Lower Earnings Estimates for Nike Inc (NKE)

Nike Inc (NYSE:NKE) – FBR & Co reduced their FY2017 earnings estimates for shares of Nike in a research report issued to clients and investors on Monday, Zacks Investment Research reports. FBR & Co analyst S. Anderson now expects that the footwear maker will post earnings of $2.34 per share for the year, down from their previous forecast of $2.42. FBR & Co has a “Market Perform” rating and a $53.00 price objective on the stock. FBR & Co also issued estimates for Nike’s Q4 2017 earnings at $0.49 EPS, Q1 2018 earnings at $0.66 EPS, Q2 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.60 EPS and FY2018 earnings at $2.46 EPS.

A number of other analysts have also commented on NKE. Stifel Nicolaus set a $68.00 price target on Nike and gave the stock a “buy” rating in a report on Sunday, December 25th. B. Riley reiterated a “neutral” rating and set a $56.00 price target on shares of Nike in a report on Monday, March 27th. Vetr lowered Nike from a “strong-buy” rating to a “buy” rating and set a $60.36 price target on the stock. in a report on Monday, March 27th. Deutsche Bank AG set a $65.00 price target on Nike and gave the stock a “buy” rating in a report on Sunday, December 25th. Finally, Argus lowered Nike from a “buy” rating to a “hold” rating and lifted their price target for the stock from $55.25 to $55.56 in a report on Tuesday, April 4th. Three 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 presently has a consensus rating of “Buy” and a consensus price target of $60.66.

Earnings History and Estimates for Nike (NYSE:NKE)

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Nike (NYSE:NKE) traded down 0.98% during midday trading on Thursday, reaching $55.85. The company’s stock had a trading volume of 6,055,617 shares. The firm has a market cap of $92.20 billion, a P/E ratio of 23.30 and a beta of 0.44. The firm has a 50 day moving average of $56.25 and a 200 day moving average of $53.47. Nike has a 52-week low of $49.01 and a 52-week high of $60.33.

Nike (NYSE:NKE) last released its quarterly earnings data 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. Nike had a return on equity of 31.70% and a net margin of 11.60%. The business had revenue of $8.43 billion for the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the previous year, the business posted $0.55 EPS. Nike’s revenue for the quarter was up 5.0% on a year-over-year basis.

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased 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 worth $2,984,719,000 after buying an additional 2,563,166 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Nike by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 36,587,010 shares of the footwear maker’s stock valued at $1,926,306,000 after buying an additional 662,231 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Nike by 0.5% in the third quarter. Bank of New York Mellon Corp now owns 29,211,934 shares of the footwear maker’s stock valued at $1,538,008,000 after buying an additional 143,272 shares during the last quarter. Morgan Stanley increased its stake in Nike by 10.1% in the third quarter. Morgan Stanley now owns 22,764,806 shares of the footwear maker’s stock valued at $1,198,567,000 after buying an additional 2,090,700 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Nike by 3.6% in the third quarter. Northern Trust Corp now owns 21,830,050 shares of the footwear maker’s stock valued at $1,149,353,000 after buying an additional 755,061 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.

In other Nike news, EVP David J. Ayre sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $53.08, for a total transaction of $10,616,000.00. Following the transaction, the executive vice president now owns 357,713 shares in the company, valued at approximately $18,987,406.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Hilary K. Krane sold 65,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $56.00, for a total value of $3,640,000.00. Following the transaction, the chief accounting officer now owns 270,795 shares in the company, valued at approximately $15,164,520. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 665,000 shares of company stock worth $36,333,500. 3.90% of the stock is owned by company insiders.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Monday, March 6th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. Nike’s dividend payout ratio is presently 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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