Shares of NIKE, Inc. (NYSE:NKE - Get Free Report) gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $62.54, but opened at $69.79. NIKE shares last traded at $71.54, with a volume of 35,807,991 shares traded.
The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter last year, the company earned $0.99 earnings per share. The business's revenue for the quarter was down 11.9% compared to the same quarter last year.
NIKE Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio is currently 53.16%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on NKE shares. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research note on Friday. UBS Group cut their price target on NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, March 21st. Needham & Company LLC boosted their price objective on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research report on Friday. Robert W. Baird increased their target price on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Williams Trading lowered their price target on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $77.70.
Read Our Latest Research Report on NIKE
Insider Activity at NIKE
In other news, Director Robert Holmes Swan purchased 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.
Institutional Trading of NIKE
Institutional investors have recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new stake in shares of NIKE during the 1st quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new stake in NIKE in the fourth quarter worth $28,000. LFA Lugano Financial Advisors SA increased its stake in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after purchasing an additional 210 shares during the period. Hopwood Financial Services Inc. bought a new stake in shares of NIKE during the fourth quarter worth $30,000. Finally, Saudi Central Bank purchased a new stake in shares of NIKE during the first quarter valued at $30,000. Institutional investors own 64.25% of the company's stock.
NIKE Price Performance
The stock's 50 day moving average price is $60.31 and its 200-day moving average price is $67.63. 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 stock has a market capitalization of $106.04 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21.
NIKE Company Profile
(
Get Free Report)
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.
Further Reading
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