Nike, Inc. (NYSE:NKE) – Stock analysts at Wedbush lowered their FY2018 earnings per share (EPS) estimates for Nike in a report issued on Thursday. Wedbush analyst C. Svezia now forecasts that the footwear maker will post earnings of $2.35 per share for the year, down from their prior estimate of $2.55. Wedbush currently has a “Neutral” rating and a $52.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup Inc. lifted their price target on Nike to $66.00 in a report on Thursday, March 23rd. Argus set a $55.00 price target on Nike in a report on Wednesday, April 5th. MKM Partners reaffirmed a “buy” rating on shares of Nike in a report on Wednesday, March 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Nike in a report on Wednesday, March 22nd. Finally, Deutsche Bank AG dropped their target price on Nike from $66.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have given a buy rating to the company. Nike currently has an average rating of “Hold” and an average price target of $60.71.

Earnings History and Estimates for Nike (NYSE:NKE)

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Shares of Nike (NYSE NKE) traded down 0.87% during trading on Monday, hitting $51.57. The stock had a trading volume of 3,203,994 shares. Nike has a one year low of $49.01 and a one year high of $60.33. The firm’s 50-day moving average is $53.24 and its 200-day moving average is $54.21. The firm has a market cap of $85.13 billion, a P/E ratio of 21.51 and a beta of 0.47.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.15. The business had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $8.47 billion. Nike had a return on equity of 32.97% and a net margin of 12.02%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS.

Several large investors have recently modified their holdings of the company. Accredited Investors Inc. increased its position in Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after buying an additional 19 shares during the period. Montecito Bank & Trust increased its position in Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after buying an additional 24 shares during the period. Intrust Bank NA increased its position in Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock worth $283,000 after buying an additional 46 shares during the period. Welch & Forbes LLC increased its position in Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock worth $557,000 after buying an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Nike by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock worth $543,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 65.55% of the company’s stock.

In related news, CAO Hilary K. Krane sold 65,000 shares of the firm’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $56.00, for a total transaction of $3,640,000.00. Following the sale, the chief accounting officer now directly owns 270,795 shares in the company, valued at $15,164,520. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John R. Thompson, Jr. sold 14,000 shares of the firm’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $56.45, for a total transaction of $790,300.00. Following the sale, the director now owns 55,660 shares in the company, valued at $3,142,007. The disclosure for this sale can be found here. Over the last quarter, insiders sold 379,000 shares of company stock worth $21,213,800. Company insiders own 3.90% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Monday, June 5th will be issued a $0.18 dividend. The ex-dividend date is Thursday, June 1st. This represents a $0.72 annualized dividend and a yield of 1.38%. Nike’s dividend payout ratio (DPR) is presently 30.00%.

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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