Q2 2017 EPS Estimates for Nike Inc. (NKE) Decreased by B. Riley
Nike Inc. (NYSE:NKE) – Equities researchers at B. Riley reduced their Q2 2017 earnings estimates for shares of Nike in a research report issued on Wednesday. B. Riley analyst M. Kummetz now forecasts that the brokerage will post earnings of $0.43 per share for the quarter, down from their previous estimate of $0.52. B. Riley currently has a “Neutral” rating and a $55.00 price target on the stock. B. Riley also issued estimates for Nike’s Q3 2017 earnings at $0.60 EPS, Q4 2017 earnings at $0.58 EPS and FY2019 earnings at $2.93 EPS.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The company had revenue of $9.06 billion for the quarter. During the same quarter in the previous year, the firm posted $1.34 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis.
NKE has been the topic of a number of other research reports. Vetr cut Nike from a “hold” rating to a “sell” rating and set a $54.86 price target on the stock. in a report on Monday, July 11th. Barclays PLC set a $70.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Monday, September 12th. Citigroup Inc. raised their price objective on shares of Nike from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday. OTR Global lowered shares of Nike to a “positive” rating in a research note on Thursday, June 16th. Finally, Bank of America Corp. set a $55.00 price objective on shares of Nike and gave the company a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $64.35.
Nike (NYSE:NKE) traded up 1.02% during trading on Thursday, reaching $52.69. The company’s stock had a trading volume of 954,533 shares. The firm has a 50 day moving average of $56.63 and a 200 day moving average of $57.26. The stock has a market capitalization of $88.10 billion, a price-to-earnings ratio of 23.78 and a beta of 0.52. Nike has a 52 week low of $51.48 and a 52 week high of $68.19.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Nike by 0.4% in the second quarter. Vanguard Group Inc. now owns 89,158,174 shares of the footwear maker’s stock worth $4,921,530,000 after buying an additional 366,833 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock worth $2,265,096,000 after buying an additional 204,944 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock worth $1,679,937,000 after buying an additional 13,136,502 shares during the last quarter. Janus Capital Management LLC raised its position in shares of Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock worth $1,405,003,000 after buying an additional 3,203,177 shares during the last quarter. Finally, Lone Pine Capital LLC increased its stake in Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock worth $1,010,475,000 after buying an additional 6,309,324 shares during the period. Institutional investors own 62.04% of the company’s stock.
In other news, EVP Hilary K. Krane sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the transaction, the executive vice president now directly owns 310,795 shares in the company, valued at $17,712,207.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the transaction, the executive vice president now owns 231,861 shares in the company, valued at $13,389,972.75. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. Nike’s payout ratio is 28.83%.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
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