Brokers Set Expectations for Nike Inc.’s Q2 2017 Earnings (NKE)
Nike Inc. (NYSE:NKE) – Equities researchers at FBR & Co dropped their Q2 2017 earnings estimates for shares of Nike in a note issued to investors on Wednesday. FBR & Co analyst S. Anderson now expects that the firm will post earnings per share of $0.43 for the quarter, down from their previous forecast of $0.51. FBR & Co has a “Market Perform” rating and a $55.00 price target on the stock. FBR & Co also issued estimates for Nike’s Q3 2017 earnings at $0.63 EPS and Q4 2017 earnings at $0.61 EPS.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping the consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The firm earned $9.06 billion during the quarter. During the same quarter last year, the company posted $1.34 EPS. Nike’s revenue for the quarter was up 7.7% on a year-over-year basis.
NKE has been the topic of several other reports. Vetr downgraded shares of Nike from a “hold” rating to a “sell” rating and set a $54.86 price objective 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 report on Monday, September 12th. Citigroup Inc. upped their price objective on shares of Nike from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday. B. Riley reiterated a “neutral” rating and issued a $55.00 price objective (down from $62.00) on shares of Nike in a report on Monday, September 26th. Finally, OTR Global downgraded shares of Nike to a “positive” rating in a report on Thursday, June 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $64.35.
Shares of Nike (NYSE:NKE) opened at 52.65 on Friday. The stock has a 50 day moving average of $56.51 and a 200-day moving average of $57.20. The firm has a market capitalization of $88.03 billion, a price-to-earnings ratio of 23.76 and a beta of 0.52. Nike has a 52 week low of $51.48 and a 52 week high of $68.19.
Several large investors have recently made changes to their positions in NKE. SevenBridge Financial Group LLC acquired a new stake in shares of Nike during the second quarter valued at about $100,000. CapWealth Advisors LLC raised its stake in shares of Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock valued at $104,000 after buying an additional 1,100 shares in the last quarter. Cribstone Capital Management LLC acquired a new stake in shares of Nike during the second quarter valued at about $106,000. Brick & Kyle Associates raised its stake in shares of Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock valued at $111,000 after buying an additional 200 shares in the last quarter. Finally, Gierl Augustine Investment Management Inc raised its stake in shares of Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock valued at $111,000 after buying an additional 6 shares in the last quarter. 62.04% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the completion of the sale, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total value of $4,198,194.00. Following the sale, the executive vice president now directly owns 231,861 shares of the company’s stock, 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 firm 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. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, September 1st. Nike’s dividend payout ratio is presently 28.83%.
Nike Company Profile
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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