FBR & Co Analysts Boost Earnings Estimates for Nike, Inc. (NKE)
Nike, Inc. (NYSE:NKE) – Research analysts at FBR & Co boosted their Q3 2018 EPS estimates for Nike in a research report issued on Wednesday. FBR & Co analyst S. Anderson now expects that the footwear maker will earn $0.70 per share for the quarter, up from their previous estimate of $0.64. FBR & Co has a “Hold” rating and a $53.00 price objective on the stock. FBR & Co also issued estimates for Nike’s Q4 2018 earnings at $0.67 EPS.
A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $56.00 price objective on shares of Nike in a report on Wednesday, June 21st. Credit Suisse Group set a $63.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Saturday, June 24th. UBS AG reiterated a “buy” rating and issued a $62.00 price objective (down from $63.00) on shares of Nike in a report on Tuesday, June 27th. Nomura reiterated a “buy” rating and issued a $60.00 price objective on shares of Nike in a report on Friday, June 30th. Finally, Deutsche Bank AG set a $69.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Saturday, July 1st. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the stock. Nike presently has a consensus rating of “Hold” and an average target price of $59.12.
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Nike (NKE) opened at 51.85 on Thursday. The stock has a market capitalization of $84.99 billion, a price-to-earnings ratio of 22.07 and a beta of 0.61. The firm has a 50-day moving average price of $55.57 and a 200 day moving average price of $55.39. Nike has a 52-week low of $49.01 and a 52-week high of $60.53.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same period last year, the company posted $0.73 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.39%. Nike’s dividend payout ratio (DPR) is currently 30.64%.
In other Nike news, CAO Hilary K. Krane sold 28,072 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $58.10, for a total value of $1,630,983.20. Following the transaction, the chief accounting officer now directly owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Trevor A. Edwards sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the transaction, the insider now directly owns 729,610 shares in the company, valued at $42,047,424.30. The disclosure for this sale can be found here. Insiders have sold 362,117 shares of company stock worth $20,935,321 over the last three months. 3.90% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Asset Planning Services Ltd. boosted its stake in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after acquiring an additional 7 shares during the last quarter. Stearns Financial Services Group boosted its stake in Nike by 0.4% in the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after acquiring an additional 17 shares during the last quarter. Accredited Investors Inc. boosted its stake in Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after acquiring an additional 19 shares during the last quarter. Montecito Bank & Trust boosted its stake in Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock valued at $402,000 after acquiring an additional 24 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV boosted its stake in Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after acquiring an additional 41 shares during the last quarter. 62.63% of the stock is currently owned by hedge funds and other institutional investors.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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