Telsey Advisory Group Predicts Weaker Earnings for NIKE

NIKE, Inc. (NYSE:NKE) – Telsey Advisory Group lowered their FY2027 EPS estimates for shares of NIKE in a research note issued on Friday, June 27th. Telsey Advisory Group analyst C. Fernandez now forecasts that the footwear maker will post earnings of $2.50 per share for the year, down from their prior estimate of $2.65. Telsey Advisory Group has a “Market Perform” rating and a $70.00 price objective on the stock. The consensus estimate for NIKE’s current full-year earnings is $2.05 per share.

Several other equities analysts also recently weighed in on the company. Citigroup lifted their target price on NIKE from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, June 27th. Stifel Nicolaus lowered their price objective on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen lowered shares of NIKE from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Robert W. Baird raised their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of NIKE from $56.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.19.

NIKE Trading Up 3.3%

Shares of NIKE stock opened at $73.38 on Monday. NIKE has a 1-year low of $52.28 and a 1-year high of $90.62. The company’s fifty day simple moving average is $61.26 and its 200-day simple moving average is $67.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock has a market capitalization of $108.54 billion, a PE ratio of 33.97, a P/E/G ratio of 2.57 and a beta of 1.25.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the company posted $0.99 EPS. The business’s quarterly revenue was down 11.9% compared to the same quarter last year.

Institutional Investors Weigh In On NIKE

Several institutional investors have recently modified their holdings of the stock. Cacti Asset Management LLC lifted its position in NIKE by 2.9% in the second quarter. Cacti Asset Management LLC now owns 306,839 shares of the footwear maker’s stock worth $22,105,000 after buying an additional 8,530 shares during the last quarter. Confluence Investment Management LLC increased its position in NIKE by 0.5% during the second quarter. Confluence Investment Management LLC now owns 248,154 shares of the footwear maker’s stock valued at $17,629,000 after acquiring an additional 1,224 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of NIKE in the first quarter valued at $2,645,000. Swedbank AB raised its stake in shares of NIKE by 2.8% in the first quarter. Swedbank AB now owns 953,011 shares of the footwear maker’s stock valued at $60,497,000 after acquiring an additional 26,026 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in shares of NIKE by 1.8% in the 1st quarter. Voya Investment Management LLC now owns 1,453,473 shares of the footwear maker’s stock worth $92,266,000 after acquiring an additional 25,481 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director owned 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

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.