Wall Street analysts expect Nike, Inc. (NYSE:NKE) to announce $8.40 billion in sales for the current fiscal quarter, Zacks reports. Eleven analysts have made estimates for Nike’s earnings, with the highest sales estimate coming in at $8.54 billion and the lowest estimate coming in at $8.31 billion. Nike posted sales of $8.18 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.7%. The company is scheduled to report its next earnings results on Tuesday, December 19th.

According to Zacks, analysts expect that Nike will report full-year sales of $8.40 billion for the current financial year, with estimates ranging from $35.20 billion to $36.16 billion. For the next fiscal year, analysts forecast that the business will report sales of $38.11 billion per share, with estimates ranging from $36.71 billion to $39.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Nike.

Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period in the previous year, the business posted $0.73 earnings per share. Nike’s revenue for the quarter was up .1% on a year-over-year basis.

A number of research firms have recently commented on NKE. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $63.00 target price (up from $62.00) on shares of Nike in a research report on Friday, June 30th. Berenberg Bank restated a “buy” rating and set a $70.00 price target on shares of Nike in a report on Friday, June 30th. Nomura reiterated a “buy” rating and issued a $60.00 target price on shares of Nike in a research note on Friday, June 30th. Credit Suisse Group set a $63.00 target price on Nike and gave the stock a “buy” rating in a research note on Saturday, June 24th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 target price on shares of Nike in a research note on Wednesday, June 28th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $59.04.

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In other Nike news, insider Eric D. Sprunk sold 112,323 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the transaction, the insider now owns 139,551 shares of the company’s stock, valued at $8,179,084.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the transaction, the director now directly owns 25,660 shares in the company, valued at approximately $1,371,527. The disclosure for this sale can be found here. Insiders have sold 134,045 shares of company stock worth $7,778,338 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. Janus Henderson Group PLC boosted its stake in Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after buying an additional 16,237,557 shares during the last quarter. Capital World Investors boosted its stake in Nike by 58.7% during the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after buying an additional 8,058,601 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in Nike by 7,020.1% during the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after buying an additional 5,274,656 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in Nike during the second quarter worth $226,588,000. Finally, Alliancebernstein L.P. boosted its stake in Nike by 25.5% during the second quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock worth $880,730,000 after buying an additional 3,033,280 shares during the last quarter. 62.55% of the stock is currently owned by institutional investors.

Shares of Nike (NYSE:NKE) opened at 52.69 on Friday. Nike has a 12 month low of $49.01 and a 12 month high of $60.53. The firm’s 50-day moving average is $52.55 and its 200 day moving average is $54.71. The company has a market capitalization of $85.96 billion, a price-to-earnings ratio of 22.43 and a beta of 0.61.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Thursday, August 31st. Nike’s dividend payout ratio (DPR) is currently 30.64%.

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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Earnings History and Estimates for Nike (NYSE:NKE)

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