Nike (NYSE:NKE) PT Raised to $95.00

Nike (NYSE:NKE) had its target price increased by Jefferies Financial Group from $83.00 to $95.00 in a report published on Friday morning, AnalystRatings.com reports. They currently have a hold rating on the footwear maker’s stock. Jefferies Financial Group also issued estimates for Nike’s Q1 2021 earnings at $0.43 EPS, 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.

NKE has been the topic of a number of other reports. Deutsche Bank lifted their price target on Nike from $84.00 to $87.00 and gave the stock a hold rating in a research note on Monday, June 15th. Wedbush reissued an outperform rating and set a $107.00 price objective on shares of Nike in a research note on Friday. Bank of America raised Nike from a neutral rating to a buy rating and lowered their price objective for the stock from $105.00 to $85.00 in a research note on Friday, March 20th. Piper Sandler boosted their price objective on Nike from $96.00 to $112.00 and gave the stock an overweight rating in a research note on Monday, June 22nd. Finally, Susquehanna Bancshares boosted their price objective on Nike from $100.00 to $130.00 and gave the stock a positive rating in a research note on Monday, June 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Nike has a consensus rating of Buy and a consensus price target of $108.96.

Shares of NYSE:NKE opened at $95.87 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.90 and a quick ratio of 1.20. The business’s 50 day moving average price is $96.23 and its 200-day moving average price is $93.53. The firm has a market capitalization of $148.25 billion, a PE ratio of 60.68, a P/E/G ratio of 3.05 and a beta of 0.78. Nike has a 1 year low of $60.00 and a 1 year high of $105.62.

Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.53). The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $7.26 billion. Nike had a return on equity of 31.93% and a net margin of 6.79%. The business’s revenue was down 38.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 earnings per share. As a group, analysts expect that Nike will post 2.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.245 per share. The ex-dividend date is Friday, May 29th. This represents a $0.98 annualized dividend and a yield of 1.02%. Nike’s dividend payout ratio (DPR) is 52.97%.

In other Nike news, COO Andrew Campion sold 60,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $98.00, for a total transaction of $5,880,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Hilary K. Krane sold 11,000 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $90.00, for a total value of $990,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 236,000 shares of company stock worth $23,228,100. 3.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Firestone Capital Management purchased a new stake in Nike during the 4th quarter worth about $25,000. Sowa Financial Group Inc. acquired a new position in shares of Nike during the 4th quarter worth about $27,000. Kessler Investment Group LLC acquired a new position in shares of Nike during the 1st quarter worth about $27,000. Stuart Chaussee & Associates Inc. boosted its position in shares of Nike by 668.9% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 301 shares in the last quarter. Finally, Perennial Advisors LLC acquired a new position in shares of Nike during the 1st quarter worth about $30,000. Institutional investors own 64.54% of the company’s stock.

About Nike

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.

Further Reading: Diluted Earnings Per Share

Analyst Recommendations for Nike (NYSE:NKE)

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