NIKE (NYSE:NKE) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

NIKE (NYSE:NKE - Get Free Report) released its quarterly earnings data on Thursday. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02, Zacks reports. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same period in the previous year, the company earned $0.99 EPS.

NIKE Stock Performance

NKE stock traded up $1.88 during midday trading on Thursday, hitting $62.71. 30,866,953 shares of the company traded hands, compared to its average volume of 15,387,850. NIKE has a twelve month low of $52.28 and a twelve month high of $94.74. The stock has a market capitalization of $92.75 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 2.21 and a beta of 1.21. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57. The business has a 50 day simple moving average of $60.17 and a 200-day simple moving average of $67.73.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. NIKE's payout ratio is currently 53.16%.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

An institutional investor recently bought a new position in NIKE stock. Caxton Associates LLP purchased a new stake in NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,894 shares of the footwear maker's stock, valued at approximately $311,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of NIKE from $70.00 to $61.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 17th. JPMorgan Chase & Co. cut their target price on NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. China Renaissance started coverage on NIKE in a research report on Wednesday, March 19th. They issued a "hold" rating for the company. Citigroup cut their price target on NIKE from $72.00 to $57.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Finally, The Goldman Sachs Group reduced their price target on shares of NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Sixteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.59.

NIKE Company Profile

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.