Nike (NYSE:NKE) Announces Earnings Results, Misses Estimates By $0.53 EPS

Nike (NYSE:NKE) issued its quarterly earnings results on Thursday. The footwear maker reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.53), MarketWatch Earnings reports. Nike had a net margin of 6.79% and a return on equity of 31.93%. The business had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $7.26 billion. During the same period last year, the business earned $0.62 earnings per share. The company’s revenue was down 38.0% on a year-over-year basis.

Shares of NYSE NKE opened at $93.67 on Friday. The firm has a 50 day moving average of $96.00 and a 200 day moving average of $93.58. The company has a current ratio of 1.90, a quick ratio of 1.20 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $145.66 billion, a price-to-earnings ratio of 59.29, a price-to-earnings-growth ratio of 3.00 and a beta of 0.79. Nike has a 12-month low of $60.00 and a 12-month high of $105.62.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 annualized dividend and a yield of 1.05%. Nike’s dividend payout ratio (DPR) is 52.97%.

NKE has been the subject of a number of recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $110.00 price target on shares of Nike in a research report on Friday. Piper Sandler lifted their price target on shares of Nike from $96.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, June 22nd. Robert W. Baird lifted their price target on shares of Nike from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. TheStreet cut shares of Nike from a “b” rating to a “c+” rating in a research report on Thursday. Finally, Susquehanna Bancshares lifted their target price on shares of Nike from $100.00 to $130.00 and gave the stock a “positive” rating in a report on Monday, June 22nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. Nike currently has an average rating of “Buy” and an average target price of $108.26.

In other Nike news, CAO Hilary K. Krane sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $90.00, for a total value of $990,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. purchased 1,000 shares of the company’s stock in a transaction on Friday, April 3rd. The stock was purchased at an average price of $84.63 per share, with a total value of $84,630.00. Following the completion of the transaction, the director now owns 12,851 shares of the company’s stock, valued at $1,087,580.13. The disclosure for this purchase can be found here. Insiders have sold 236,000 shares of company stock valued at $23,228,100 over the last 90 days. 3.80% of the stock is currently owned by company insiders.

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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Earnings History for Nike (NYSE:NKE)

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