NIKE (NYSE:NKE) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

NIKE (NYSE:NKE) announced its quarterly earnings data on Thursday. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the company posted $1.03 EPS. NIKE’s revenue was down 7.7% compared to the same quarter last year.

NIKE Price Performance

NKE opened at $77.10 on Friday. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company’s 50 day simple moving average is $78.18 and its 200 day simple moving average is $80.77. The stock has a market capitalization of $115.60 billion, a PE ratio of 22.09, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 45.85%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NKE. Barclays dropped their price target on shares of NIKE from $81.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Piper Sandler reissued a “neutral” rating and set a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Morgan Stanley decreased their price target on NIKE from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. TD Cowen dropped their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, Bank of America lowered their price target on shares of NIKE from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.73.

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.