Nike Inc (NYSE:NKE) to Post Q1 2021 Earnings of $0.43 Per Share, Jefferies Financial Group Forecasts
Nike Inc (NYSE:NKE) – Research analysts at Jefferies Financial Group issued their Q1 2021 earnings estimates for Nike in a research note issued on Friday, June 26th. Jefferies Financial Group analyst R. Konik forecasts that the footwear maker will earn $0.43 per share for the quarter. Jefferies Financial Group currently has a “Hold” rating and a $95.00 target price on the stock. Jefferies Financial Group also issued estimates for Nike’s Q2 2021 earnings at $0.51 EPS, Q3 2021 earnings at $0.88 EPS, Q4 2021 earnings at $0.30 EPS, FY2021 earnings at $2.12 EPS and FY2022 earnings at $3.16 EPS.
Other analysts have also issued research reports about the company. Credit Suisse Group cut their price target on Nike from $114.00 to $111.00 and set an “outperform” rating for the company in a report on Friday, June 26th. BMO Capital Markets reissued a “buy” rating and set a $100.00 price target on shares of Nike in a report on Friday, June 26th. Piper Sandler boosted their price target on Nike from $96.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, June 22nd. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating and set a $108.00 price target for the company in a report on Wednesday, June 24th. Finally, Robert W. Baird boosted their price target on Nike from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $108.96.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 25th. The footwear maker reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.53). Nike had a return on equity of 31.93% and a net margin of 6.79%. The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $7.26 billion. During the same period in the previous year, the firm earned $0.62 EPS. The business’s revenue was down 38.0% on a year-over-year basis.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Nike by 1.7% in the first quarter. BlackRock Inc. now owns 90,976,698 shares of the footwear maker’s stock worth $7,527,412,000 after purchasing an additional 1,489,033 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Nike by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 26,547,619 shares of the footwear maker’s stock worth $2,196,549,000 after purchasing an additional 584,343 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Nike by 0.3% during the first quarter. Wellington Management Group LLP now owns 22,175,695 shares of the footwear maker’s stock worth $1,834,816,000 after buying an additional 73,831 shares during the period. Geode Capital Management LLC lifted its holdings in Nike by 1.1% during the first quarter. Geode Capital Management LLC now owns 21,107,272 shares of the footwear maker’s stock worth $1,743,723,000 after buying an additional 222,608 shares during the period. Finally, Capital World Investors lifted its holdings in Nike by 2.5% during the first quarter. Capital World Investors now owns 20,704,258 shares of the footwear maker’s stock worth $1,713,079,000 after buying an additional 508,120 shares during the period. 64.54% of the stock is currently owned by institutional investors.
In other news, Chairman Mark G. Parker sold 165,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $99.14, for a total transaction of $16,358,100.00. Following the transaction, the chairman now owns 2,012,954 shares of the company’s stock, valued at $199,564,259.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andrew Campion sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $98.00, for a total value of $5,880,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 236,000 shares of company stock worth $23,228,100. Insiders own 3.80% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.00%. Nike’s dividend payout ratio is 52.97%.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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