Nike Inc (NYSE:NKE) – Oppenheimer Holdings decreased their Q4 2017 earnings per share (EPS) estimates for shares of Nike in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. Oppenheimer Holdings analyst A. Andreeva now anticipates that the footwear maker will earn $0.50 per share for the quarter, down from their prior forecast of $0.55. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Nike’s Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.60 EPS and Q4 2018 earnings at $0.59 EPS.
Other analysts have also issued reports about the company. B. Riley reaffirmed a “neutral” rating and issued a $56.00 price objective on shares of Nike in a research note on Monday, December 26th. Deutsche Bank AG set a $65.00 price objective on Nike and gave the company a “buy” rating in a research note on Sunday, December 25th. Stifel Nicolaus set a $68.00 price objective on Nike and gave the company a “buy” rating in a research note on Sunday, December 25th. Jefferies Group LLC reissued a “buy” rating and set a $75.00 price target on shares of Nike in a research note on Wednesday, March 22nd. Finally, Argus lowered Nike from a “buy” rating to a “hold” rating and lifted their price target for the company from $55.25 to $55.56 in a research note on Tuesday, April 4th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $60.66.
Nike (NYSE:NKE) traded down 0.98% during midday trading on Thursday, reaching $55.85. 6,055,617 shares of the company’s stock were exchanged. Nike has a 12 month low of $49.01 and a 12 month high of $60.33. The company has a market cap of $92.20 billion, a P/E ratio of 23.30 and a beta of 0.44. The company 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 quarterly earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year.
The business also recently announced 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. This represents a $0.72 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, March 2nd. Nike’s dividend payout ratio is presently 31.72%.
In related news, EVP David J. Ayre sold 200,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 357,713 shares in the company, valued at approximately $18,987,406.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Hilary K. Krane sold 65,000 shares of the stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $56.00, for a total value of $3,640,000.00. Following the sale, the chief accounting officer now owns 270,795 shares of the company’s stock, valued at $15,164,520. The disclosure for this sale can be found here. Insiders have sold a total of 665,000 shares of company stock valued at $36,333,500 over the last 90 days. 3.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in NKE. State Street Corp raised its position in shares of 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 in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of 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 in the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 in the last quarter. Morgan Stanley raised its position in shares of 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 in the last quarter. Finally, Northern Trust Corp raised its position in shares of 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 in the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.
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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