Research Analysts Set Expectations for Nike Inc’s FY2017 Earnings (NKE)

Nike Inc (NYSE:NKE) – DA Davidson raised their FY2017 earnings estimates for shares of Nike in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. DA Davidson analyst A. Burns now expects that the footwear maker will post earnings of $2.38 per share for the year, up from their previous forecast of $2.28. DA Davidson has a “Buy” rating and a $64.00 price objective on the stock. DA Davidson also issued estimates for Nike’s Q4 2017 earnings at $0.48 EPS, Q1 2018 earnings at $0.68 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.55 EPS, FY2018 earnings at $2.46 EPS and FY2019 earnings at $2.80 EPS.

Several other analysts have also recently commented on the stock. Jefferies Group LLC set a $75.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Tuesday, December 27th. Forward View began coverage on shares of Nike in a research note on Friday, January 27th. They issued a “hold” rating and a $55.00 price objective for the company. Goldman Sachs Group Inc lifted their target price on shares of Nike from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, March 22nd. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $63.24 target price for the company in a research report on Wednesday, March 22nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $68.00 target price on shares of Nike in a research report on Saturday, March 11th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have issued a buy rating to the company. Nike has a consensus rating of “Buy” and an average 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, hitting $55.85. 6,055,617 shares of the stock traded hands. The company has a 50-day moving average price of $56.25 and a 200 day moving average price of $53.47. Nike has a one year low of $49.01 and a one year high of $60.33. The stock has a market cap of $92.20 billion, a price-to-earnings ratio of 23.30 and a beta of 0.44.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Nike by 4.6% in the fourth quarter. State Street Corp now owns 58,719,250 shares of the footwear maker’s stock valued at $2,984,719,000 after buying an additional 2,563,166 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised 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 raised 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 raised 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 raised 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 related news, Chairman Mark G. Parker sold 100,000 shares of the company’s stock in a transaction on 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 sale, the chairman now directly owns 1,966,235 shares of the company’s stock, valued at $104,092,480.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David J. Ayre sold 200,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 357,713 shares of the company’s stock, valued at approximately $18,987,406.04. The disclosure for this sale can be found here. Insiders sold 665,000 shares of company stock worth $36,333,500 over the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

The business also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Monday, March 6th were issued 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 is presently 31.72%.

About Nike

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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