NIKE Stock Rating Reaffirmed by TheStreet (NKE)
NIKE (NYSE: NKE)‘s stock had its “buy” rating reaffirmed by research analysts at TheStreet in a report released on Tuesday.
The analysts wrote, “Nike (NKE) has been reiterated by TheStreet Ratings as a buy with a ratings score of A+ . The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
NIKE opened at 54.53 on Tuesday. NIKE has a 52-week low of $42.55 and a 52-week high of $57.405. The stock’s 50-day moving average is currently $54.41. The company has a market cap of $48.843 billion and a price-to-earnings ratio of 24.61.
NIKE last announced its earnings results on Thursday, December 20th. The company reported $1.14 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.00 by $0.14. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.99 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts expect that NIKE will post $2.64 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated a “neutral” rating on shares of NIKE in a research note to investors on Friday. They now have a $51.00 price target on the stock. Separately, analysts at Cowen initiated coverage on shares of NIKE in a research note to investors on Tuesday, February 26th. They set an “outperform” rating on the stock. Finally, analysts at Citigroup upgraded shares of NIKE from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, February 21st. They now have a $62.00 price target on the stock, up previously from $51.00.
Ten analysts have rated the stock with a buy rating, one has assigned an overweight rating, and fourteen have assigned a hold rating to the stock. The company has an average rating of “overweight” and an average price target of $56.69.
The company also recently announced a quarterly dividend, which is scheduled for Monday, April 1st. Stockholders of record on Monday, March 4th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Thursday, February 28th.
NIKE, Inc. (NIKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.
To view TheStreet’s full report, visit www.thestreetratings.com
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