NIKE (NYSE:NKE) Releases Earnings Results, Beats Estimates By $0.18 EPS

NIKE (NYSE:NKE) posted its quarterly earnings results on Tuesday. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18, Briefing.com reports. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis.

NIKE Stock Performance

Shares of NYSE NKE opened at $83.10 on Thursday. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market cap of $125.43 billion, a P/E ratio of 22.28, a P/E/G ratio of 2.30 and a beta of 1.02. The business’s 50 day moving average is $80.50 and its two-hundred day moving average is $86.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

NKE has been the topic of a number of research reports. The Goldman Sachs Group dropped their target price on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Citigroup cut their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Robert W. Baird boosted their price target on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Evercore ISI dropped their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Truist Financial reduced their price objective on NIKE from $85.00 to $83.00 and set a “hold” rating for the company in a research report on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.04.

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.