NIKE (NYSE:NKE) Issues Quarterly Earnings Results, Beats Estimates By $0.18 EPS

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

NIKE Stock Performance

NYSE NKE traded down $0.51 during trading hours on Thursday, reaching $82.59. The company’s stock had a trading volume of 5,574,101 shares, compared to its average volume of 11,725,836. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE has a 52 week low of $70.75 and a 52 week high of $123.39. The business has a 50-day simple moving average of $80.50 and a 200 day simple moving average of $86.39. The stock has a market cap of $124.66 billion, a PE ratio of 22.24, a PEG ratio of 2.30 and a beta of 1.02.

NIKE Announces Dividend

The company also recently declared 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 was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.79%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Analyst Ratings Changes

NKE has been the topic of several analyst reports. HSBC dropped their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada decreased their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley upped their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Barclays decreased their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.04.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other NIKE news, 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 value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’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 completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.