Nike, Inc. (NKE) Given a $49.00 Price Target at Jefferies Group LLC
Jefferies Group LLC set a $49.00 target price on Nike, Inc. (NYSE:NKE) in a research note published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a hold rating on the footwear maker’s stock. Jefferies Group also issued estimates for Nike’s Q1 2018 earnings at $0.46 EPS, Q2 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at $0.64 EPS, FY2018 earnings at $2.26 EPS, FY2019 earnings at $2.61 EPS and FY2020 earnings at $2.83 EPS.
Other equities analysts have also recently issued research reports about the stock. Berenberg Bank reaffirmed a buy rating and set a $70.00 price objective on shares of Nike in a research note on Wednesday, June 14th. Vetr raised shares of Nike from a hold rating to a buy rating and set a $55.06 price objective for the company in a research note on Thursday, June 15th. Goldman Sachs Group, Inc. (The) set a $62.00 price objective on shares of Nike and gave the company a buy rating in a research note on Friday, June 16th. Deutsche Bank AG set a $63.00 price objective on shares of Nike and gave the company a buy rating in a research note on Tuesday, June 20th. Finally, Credit Suisse Group set a $63.00 price objective on shares of Nike and gave the company a buy rating in a research note on Saturday, June 24th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty have issued a buy rating to the stock. Nike presently has an average rating of Hold and an average target price of $60.04.
Shares of Nike (NKE) opened at 53.24 on Tuesday. Nike has a 12-month low of $49.01 and a 12-month high of $60.53. The firm has a 50-day moving average of $55.57 and a 200-day moving average of $55.39. The company has a market cap of $87.48 billion, a P/E ratio of 21.21 and a beta of 0.61.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. Nike’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 earnings per share. Analysts predict that Nike will post $2.41 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio is presently 28.69%.
In related news, CFO Andrew Campion sold 96,243 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the transaction, the chief financial officer now owns 50,246 shares in the company, valued at approximately $2,847,943.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $855,200.00. Following the completion of the transaction, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The disclosure for this sale can be found here. In the last quarter, insiders sold 508,360 shares of company stock worth $29,340,374. 3.90% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. V Wealth Management LLC bought a new position in Nike in the 2nd quarter worth about $100,000. Webster Bank N. A. boosted its stake in 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 stake in 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 bought a new position in Nike in the 2nd quarter worth about $136,000. Finally, Kistler Tiffany Companies LLC boosted its stake in Nike by 91.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares in the last quarter. Institutional investors own 62.63% of the company’s stock.
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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