NIKE (NYSE:NKE) Announces Quarterly Earnings Results

NIKE (NYSE:NKE) released its quarterly earnings data on Thursday. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15, Zacks reports. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year.

NIKE Stock Performance

Shares of NYSE NKE opened at $76.94 on Friday. NIKE has a 12-month low of $70.75 and a 12-month high of $123.30. The company has a market cap of $115.36 billion, a PE ratio of 22.05, a P/E/G ratio of 1.89 and a beta of 1.02. The stock has a 50 day simple moving average of $78.07 and a 200-day simple moving average of $80.65. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

Analyst Ratings Changes

A number of brokerages have commented on NKE. JPMorgan Chase & Co. reduced their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Needham & Company LLC reissued a “buy” rating and set a $84.00 price target on shares of NIKE in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $93.00 to $80.00 in a research note on Friday. Finally, Barclays dropped their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

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.