Nike Inc (NYSE:NKE) – Analysts at Jefferies Group reduced their FY2017 earnings estimates for shares of Nike in a research note issued to investors on Wednesday, according to Zacks Investment Research. Jefferies Group analyst R. Konik now forecasts that the footwear maker will earn $2.44 per share for the year, down from their prior estimate of $2.50. Jefferies Group has a “Buy” rating and a $75.00 price target on the stock. Jefferies Group also issued estimates for Nike’s Q4 2017 earnings at $0.53 EPS, Q2 2018 earnings at $0.69 EPS, Q3 2018 earnings at $0.75 EPS and Q4 2018 earnings at $0.68 EPS.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping 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 earned $8.43 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same period last year, the company earned $0.55 earnings per share. Nike’s quarterly revenue was up 5.0% compared to the same quarter last year.
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NKE has been the topic of several other reports. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $60.31 price target on the stock in a report on Tuesday, January 3rd. Morgan Stanley set a $56.00 price target on shares of Nike and gave the company a “neutral” rating in a report on Monday, March 13th. HSBC Holdings plc set a $64.00 price target on shares of Nike and gave the company a “buy” rating in a report on Wednesday, January 11th. Forward View initiated coverage on shares of Nike in a report on Friday, January 27th. They issued a “hold” rating and a $55.00 price target on the stock. Finally, Canaccord Genuity reissued a “hold” rating and issued a $51.00 price target on shares of Nike in a report on Friday, December 23rd. Three equities 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 stock. Nike currently has a consensus rating of “Buy” and an average target price of $60.66.
Nike (NYSE:NKE) traded down 0.98% during trading on Friday, reaching $55.85. The company’s stock had a trading volume of 6,055,617 shares. The company has a market cap of $92.20 billion, a P/E ratio of 23.30 and a beta of 0.44. Nike has a 52 week low of $49.01 and a 52 week high of $60.33. The company’s 50 day moving average price is $56.25 and its 200 day moving average price is $53.47.
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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, March 2nd. Nike’s dividend payout ratio is presently 31.72%.
In other Nike news, insider Eric D. Sprunk sold 50,000 shares of Nike stock in a transaction on Friday, March 24th. The shares were sold at an average price of $55.67, for a total value of $2,783,500.00. Following the completion of the sale, the insider now directly owns 300,108 shares of the company’s stock, valued at $16,707,012.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 100,000 shares of Nike stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $52.94, for a total transaction of $5,294,000.00. Following the completion of the sale, the chairman now directly owns 1,966,235 shares of the company’s stock, valued at $104,092,480.90. The disclosure for this sale can be found here. Insiders have sold 665,000 shares of company stock valued at $36,333,500 in the last three months. 3.90% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of NKE. Capital Investment Advisors LLC increased its stake in Nike by 0.3% in the third quarter. Capital Investment Advisors LLC now owns 3,885 shares of the footwear maker’s stock valued at $205,000 after buying an additional 12 shares during the period. Altfest L J & Co. Inc. increased its stake in Nike by 0.5% in the third quarter. Altfest L J & Co. Inc. now owns 3,964 shares of the footwear maker’s stock valued at $209,000 after buying an additional 20 shares during the period. BancorpSouth Inc increased its stake in Nike by 0.4% in the third quarter. BancorpSouth Inc now owns 7,406 shares of the footwear maker’s stock valued at $390,000 after buying an additional 33 shares during the period. Empirical Financial Services LLC increased its stake in Nike by 0.8% in the third quarter. Empirical Financial Services LLC now owns 5,549 shares of the footwear maker’s stock valued at $292,000 after buying an additional 45 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Nike by 0.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 10,336 shares of the footwear maker’s stock valued at $544,000 after buying an additional 49 shares during the period. 62.23% of the stock is owned by hedge funds and other institutional investors.
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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