NIKE (NYSE:NKE) Announces Quarterly Earnings Results

NIKE (NYSE:NKE) released its quarterly earnings results on Tuesday. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18, Briefing.com reports. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the company earned $0.94 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year.

NIKE Price Performance

NYSE:NKE opened at $83.10 on Thursday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $80.50 and its 200 day moving average price is $86.39. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a market cap of $125.43 billion, a P/E ratio of 22.28, a PEG ratio of 2.30 and a beta of 1.02.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent analyst reports. Oppenheimer reissued an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. BMO Capital Markets decreased their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday. Sanford C. Bernstein decreased their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Finally, Royal Bank of Canada decreased their price objective on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.04.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.