Piper Jaffray Companies Equities Analysts Increase Earnings Estimates for Nike Inc (NKE)

Nike Inc (NYSE:NKE) – Equities research analysts at Piper Jaffray Companies upped their Q3 2019 earnings estimates for shares of Nike in a research note issued on Monday, March 18th. Piper Jaffray Companies analyst E. Murphy now expects that the footwear maker will earn $0.65 per share for the quarter, up from their prior estimate of $0.60. Piper Jaffray Companies has a “Buy” rating and a $92.00 price target on the stock. Piper Jaffray Companies also issued estimates for Nike’s Q4 2019 earnings at $0.83 EPS, FY2019 earnings at $2.66 EPS, Q1 2020 earnings at $0.81 EPS, Q2 2020 earnings at $0.61 EPS, Q3 2020 earnings at $0.77 EPS and Q4 2020 earnings at $0.97 EPS.

NKE has been the subject of several other research reports. Cowen upgraded shares of Nike from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $90.00 in a report on Tuesday, January 22nd. Rowe upgraded shares of Nike from a “sell” rating to an “outperform” rating and set a $100.00 target price for the company in a report on Friday, February 8th. Bank of America set a $55.00 target price on shares of Nike and gave the company a “sell” rating in a report on Sunday, December 23rd. JPMorgan Chase & Co. set a $85.00 target price on shares of Nike and gave the company a “buy” rating in a report on Wednesday, January 2nd. Finally, Morgan Stanley set a $103.00 target price on shares of Nike and gave the company a “buy” rating in a report on Tuesday, December 11th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $86.76.

NYSE NKE opened at $86.69 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 2.14 and a debt-to-equity ratio of 0.40. Nike has a 52 week low of $63.21 and a 52 week high of $88.59. The company has a market cap of $138.21 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 2.71 and a beta of 0.68.

Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.46 by $0.06. Nike had a net margin of 5.66% and a return on equity of 44.85%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the previous year, the business posted $0.46 EPS. The firm’s revenue was up 9.6% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.88 annualized dividend and a yield of 1.02%. Nike’s dividend payout ratio (DPR) is 36.36%.

In related news, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $73.68, for a total value of $11,052,000.00. Following the completion of the sale, the chairman now owns 1,687,863 shares in the company, valued at approximately $124,361,745.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 16,500 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 816,500 shares of company stock valued at $63,317,465. 3.90% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Bank purchased a new stake in Nike in the 4th quarter valued at $424,000. Centric Wealth Management purchased a new stake in Nike in the 4th quarter valued at $261,000. CMC Financial Group purchased a new stake in Nike in the 4th quarter valued at $651,000. Van Leeuwen & Company LLC raised its position in Nike by 3.4% during the 4th quarter. Van Leeuwen & Company LLC now owns 4,655 shares of the footwear maker’s stock worth $345,000 after buying an additional 155 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Nike by 19.7% during the 4th quarter. American Century Companies Inc. now owns 6,357,307 shares of the footwear maker’s stock worth $471,331,000 after buying an additional 1,047,428 shares during the last quarter. Hedge funds and other institutional investors own 64.77% of the company’s stock.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

See Also: Earnings Per Share (EPS)

Earnings History and Estimates for Nike (NYSE:NKE)

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