Nike Inc (NYSE:NKE) – Equities researchers at Piper Sandler increased their Q3 2021 earnings estimates for Nike in a research note issued to investors on Thursday, June 25th. Piper Sandler analyst E. Murphy now expects that the footwear maker will earn $0.86 per share for the quarter, up from their previous estimate of $0.83. Piper Sandler currently has a “Overweight” rating and a $112.00 price target on the stock. Piper Sandler also issued estimates for Nike’s Q4 2021 earnings at $0.70 EPS, Q2 2022 earnings at $0.73 EPS, Q4 2022 earnings at $0.85 EPS and FY2023 earnings at $3.74 EPS.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.53). Nike had a net margin of 6.79% and a return on equity of 31.93%. The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $7.26 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The firm’s revenue for the quarter was down 38.0% on a year-over-year basis.
NKE has been the subject of several other reports. Needham & Company LLC increased their price target on Nike from $80.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Cowen increased their price target on Nike from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Raymond James increased their price target on Nike from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th. BMO Capital Markets reissued a “buy” rating and issued a $100.00 price objective on shares of Nike in a research report on Friday, June 26th. Finally, Bank of America raised shares of Nike from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $105.00 to $85.00 in a research report on Friday, March 20th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $108.96.
Shares of NYSE NKE opened at $98.05 on Monday. Nike has a 12-month low of $60.00 and a 12-month high of $105.62. The company has a market cap of $145.66 billion, a P/E ratio of 62.06, a P/E/G ratio of 3.05 and a beta of 0.78. 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 stock has a fifty day moving average price of $96.34 and a 200 day moving average price of $93.52.
Several large investors have recently made changes to their positions in NKE. NovaPoint Capital LLC increased its stake in shares of Nike by 2.1% during the first quarter. NovaPoint Capital LLC now owns 22,187 shares of the footwear maker’s stock valued at $1,836,000 after acquiring an additional 462 shares during the period. Cunning Capital Partners LP acquired a new position in shares of Nike during the first quarter valued at approximately $972,000. New England Research & Management Inc. increased its stake in shares of Nike by 7.0% during the first quarter. New England Research & Management Inc. now owns 15,985 shares of the footwear maker’s stock valued at $1,323,000 after acquiring an additional 1,050 shares during the period. Telemus Capital LLC increased its stake in shares of Nike by 3.8% during the first quarter. Telemus Capital LLC now owns 48,487 shares of the footwear maker’s stock valued at $4,780,000 after acquiring an additional 1,761 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Nike by 31.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 569,034 shares of the footwear maker’s stock valued at $47,082,000 after acquiring an additional 136,455 shares during the period. Institutional investors own 64.54% of the company’s stock.
In other news, Director John W. Rogers, Jr. purchased 1,000 shares of the company’s stock in a transaction on Friday, April 3rd. The shares were bought at an average price of $84.63 per share, for a total transaction of $84,630.00. Following the completion of the purchase, the director now owns 12,851 shares of the company’s stock, valued at $1,087,580.13. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew Campion sold 60,000 shares of the firm’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 transaction of $5,880,000.00. The disclosure for this sale can be found here. Insiders sold 236,000 shares of company stock worth $23,228,100 in the last 90 days. 3.80% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.245 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 dividend on an annualized basis and a yield of 1.00%. Nike’s dividend payout ratio is currently 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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