Nike, Inc. (NKE) Expected to Post Q4 2018 Earnings of $0.64 Per Share
Nike, Inc. (NYSE:NKE) – Research analysts at Jefferies Group reduced their Q4 2018 earnings per share estimates for shares of Nike in a report released on Tuesday. Jefferies Group analyst R. Konik now expects that the footwear maker will earn $0.64 per share for the quarter, down from their previous forecast of $0.70. Jefferies Group currently has a “Hold” rating and a $49.00 price target on the stock.
A number of other brokerages also recently issued reports on NKE. Stifel Nicolaus set a $66.00 price objective on Nike and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price objective on Nike and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Guggenheim restated a “buy” rating and set a $70.00 price objective on shares of Nike in a research report on Monday, July 24th. Cowen and Company set a $54.00 price objective on Nike and gave the stock a “hold” rating in a research report on Friday, August 4th. Finally, Barclays PLC restated an “overweight” rating and set a $65.00 price objective on shares of Nike in a research report on Friday, June 30th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $60.04.
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Nike (NYSE:NKE) traded up 0.509% during trading on Thursday, hitting $53.461. The stock had a trading volume of 4,823,401 shares. The company has a market cap of $87.85 billion, a price-to-earnings ratio of 21.299 and a beta of 0.61. The company has a 50-day moving average of $55.57 and a 200 day moving average of $55.39. Nike has a 52 week low of $49.01 and a 52 week high of $60.53.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s payout ratio is 28.69%.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the transaction, the director now directly owns 25,660 shares in the company, valued at approximately $1,371,527. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Campion sold 5,722 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the completion of the transaction, the chief financial officer now owns 34,976 shares of the company’s stock, valued at $2,077,574.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 508,360 shares of company stock valued at $29,340,374. 3.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of NKE. V Wealth Management LLC purchased a new position in shares of Nike in the 2nd quarter worth about $100,000. Webster Bank N. A. boosted its holdings in shares of Nike by 75.5% in the 1st quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after purchasing an additional 900 shares in the last quarter. Asset Planning Services Ltd. boosted its holdings in shares of Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares in the last quarter. Atlantic Trust LLC purchased a new position in shares of Nike in the 2nd quarter worth about $136,000. Finally, Rational Advisors LLC boosted its holdings in shares of Nike by 14.3% in the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 62.63% of the company’s stock.
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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