NIKE (NYSE:NKE) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS

NIKE (NYSE:NKE) posted its quarterly earnings data on Thursday. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16, RTT News reports. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS.

NIKE Stock Down 17.2 %

NYSE:NKE traded down $16.20 during mid-day trading on Friday, hitting $77.99. The company had a trading volume of 19,187,672 shares, compared to its average volume of 9,409,412. The business has a fifty day simple moving average of $93.70 and a 200-day simple moving average of $99.48. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE has a 1 year low of $77.11 and a 1 year high of $123.39. The firm has a market capitalization of $117.71 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.79 and a beta of 1.05.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is currently 43.53%.

Insider Buying and Selling at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock valued at $19,946,333 over the last three months. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Sanford C. Bernstein lowered their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Evercore ISI lowered their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday. Jefferies Financial Group lowered their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $83.00 price objective (down from $116.00) on shares of NIKE in a research report on Friday. Finally, The Goldman Sachs Group lowered their price objective on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $103.22.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.