NIKE, Inc. (NYSE:NKE) Expected to Announce Quarterly Sales of $12.56 Billion

Equities analysts expect NIKE, Inc. (NYSE:NKE) to announce sales of $12.56 billion for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for NIKE’s earnings, with the highest sales estimate coming in at $12.90 billion and the lowest estimate coming in at $12.30 billion. NIKE reported sales of $10.59 billion during the same quarter last year, which suggests a positive year over year growth rate of 18.6%. The company is expected to issue its next earnings results after the market closes on Thursday, September 23rd.

According to Zacks, analysts expect that NIKE will report full-year sales of $50.25 billion for the current financial year, with estimates ranging from $49.80 billion to $51.25 billion. For the next financial year, analysts anticipate that the business will post sales of $55.15 billion, with estimates ranging from $54.69 billion to $55.61 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow NIKE.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.42. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The company had revenue of $12.30 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the prior year, the company earned ($0.51) earnings per share. The company’s revenue for the quarter was up 94.8% compared to the same quarter last year.

Several equities research analysts have issued reports on the company. Bank of America increased their price target on NIKE from $150.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, June 25th. Oppenheimer increased their price objective on NIKE from $150.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. Robert W. Baird increased their price objective on NIKE from $150.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, June 25th. Credit Suisse Group increased their price objective on NIKE from $165.00 to $183.00 and gave the stock an “outperform” rating in a report on Friday, June 25th. Finally, KGI Securities assumed coverage on NIKE in a report on Tuesday, July 6th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $173.26.

In other NIKE news, CAO Hilary K. Krane sold 21,500 shares of the firm’s stock in a transaction on Friday, June 25th. The stock was sold at an average price of $153.16, for a total transaction of $3,292,940.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction on Friday, June 25th. The stock was sold at an average price of $152.00, for a total value of $1,520,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 379,671 shares of company stock valued at $60,634,427. 3.70% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of NKE. FFT Wealth Management LLC bought a new position in NIKE during the 2nd quarter worth $26,000. Princeton Global Asset Management LLC increased its stake in NIKE by 39.8% during the 2nd quarter. Princeton Global Asset Management LLC now owns 246 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 70 shares during the period. Rockbridge Investment Management LCC increased its stake in NIKE by 43.9% during the 2nd quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 75 shares during the period. Financial Insights Inc. bought a new position in NIKE during the 2nd quarter worth $38,000. Finally, Okabena Investment Services Inc. bought a new position in shares of NIKE in the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 64.45% of the company’s stock.

Shares of NIKE stock traded down $0.76 during trading hours on Tuesday, hitting $158.76. The company’s stock had a trading volume of 5,258,111 shares, compared to its average volume of 6,287,462. NIKE has a 12 month low of $111.74 and a 12 month high of $174.38. The stock has a 50 day moving average of $165.76 and a 200 day moving average of $146.63. The company has a market capitalization of $251.13 billion, a PE ratio of 44.60, a price-to-earnings-growth ratio of 2.49 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.72 and a quick ratio of 2.01.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Monday, August 30th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 27th. This represents a $1.10 annualized dividend and a yield of 0.69%. NIKE’s payout ratio is currently 30.90%.

About NIKE

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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