Nike Inc (NYSE:NKE) Expected to Announce Earnings of $0.58 Per Share

Equities analysts expect that Nike Inc (NYSE:NKE) will post earnings of $0.58 per share for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Nike’s earnings, with the lowest EPS estimate coming in at $0.55 and the highest estimate coming in at $0.60. Nike reported earnings of $0.52 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 11.5%. The firm is expected to report its next earnings results on Thursday, December 19th.

On average, analysts expect that Nike will report full year earnings of $2.97 per share for the current fiscal year, with EPS estimates ranging from $2.88 to $3.09. For the next financial year, analysts expect that the company will post earnings of $3.50 per share, with EPS estimates ranging from $3.25 to $3.67. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Nike.

Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.15. The business had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.43 billion. Nike had a return on equity of 47.92% and a net margin of 10.81%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share.

NKE has been the topic of several research reports. Morgan Stanley raised their target price on Nike from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Piper Jaffray Companies raised their price objective on Nike from $97.00 to $101.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Needham & Company LLC set a $98.00 price objective on Nike and gave the stock a “buy” rating in a research note on Friday, October 11th. DZ Bank reaffirmed a “sell” rating on shares of Nike in a research note on Wednesday, September 25th. Finally, Macquarie set a $89.00 price objective on Nike and gave the stock a “buy” rating in a research note on Friday, June 28th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $96.98.

In related news, insider Elliott Hill sold 3,228 shares of Nike stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.07, for a total transaction of $281,061.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John C. Lechleiter sold 5,406 shares of Nike stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.13, for a total value of $471,024.78. Following the sale, the director now directly owns 68,457 shares in the company, valued at approximately $5,964,658.41. The disclosure for this sale can be found here. Insiders have sold a total of 505,579 shares of company stock worth $45,961,980 in the last three months. 3.80% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Garrett Wealth Advisory Group LLC bought a new stake in Nike in the 3rd quarter worth approximately $26,000. Hexavest Inc. bought a new stake in Nike in the 2nd quarter worth approximately $30,000. Litman Gregory Asset Management LLC bought a new stake in Nike in the 2nd quarter worth approximately $31,000. LFA Lugano Financial Advisors SA increased its stake in Nike by 43.1% in the 2nd quarter. LFA Lugano Financial Advisors SA now owns 465 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 140 shares during the last quarter. Finally, Lipe & Dalton bought a new stake in Nike in the 2nd quarter worth approximately $50,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

NYSE:NKE traded up $0.54 on Friday, hitting $96.10. The stock had a trading volume of 5,993,298 shares, compared to its average volume of 7,303,586. The stock has a market cap of $149.17 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth ratio of 2.54 and a beta of 0.85. The company has a quick ratio of 1.29, a current ratio of 2.01 and a debt-to-equity ratio of 0.67. The business’s 50-day simple moving average is $89.89 and its two-hundred day simple moving average is $85.78. Nike has a 52-week low of $66.53 and a 52-week high of $96.46.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.92%. The ex-dividend date was Friday, August 30th. Nike’s dividend payout ratio (DPR) is presently 35.34%.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Earnings History and Estimates for Nike (NYSE:NKE)

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