Wedbush Brokers Raise Earnings Estimates for Nike Inc (NKE)

Nike Inc (NYSE:NKE) – Wedbush raised their FY2017 earnings estimates for shares of Nike in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Wedbush analyst C. Svezia now expects that the footwear maker will post earnings of $2.40 per share for the year, up from their previous forecast of $2.33. Wedbush has a “Neutral” rating and a $52.00 price objective on the stock. Wedbush also issued estimates for Nike’s Q4 2017 earnings at $0.50 EPS and FY2018 earnings at $2.55 EPS.

A number of other analysts have also commented on NKE. Stifel Nicolaus set a $68.00 price target on Nike and gave the stock a “buy” rating in a report on Sunday, December 25th. B. Riley reiterated a “neutral” rating and set a $56.00 price target on shares of Nike in a report on Monday, March 27th. Vetr lowered Nike from a “strong-buy” rating to a “buy” rating and set a $60.36 price target on the stock. in a report on Monday, March 27th. Deutsche Bank AG set a $65.00 target price on Nike and gave the stock a “buy” rating in a research report on Sunday, December 25th. Finally, Argus downgraded Nike from a “buy” rating to a “hold” rating and raised their target price for the stock from $55.25 to $55.56 in a research report on Tuesday, April 4th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $60.66.

Earnings History and Estimates for Nike (NYSE:NKE)

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Nike (NYSE:NKE) traded down 0.98% during midday trading on Thursday, reaching $55.85. The company’s stock had a trading volume of 6,055,617 shares. The firm has a market cap of $92.20 billion, a P/E ratio of 23.30 and a beta of 0.44. The firm has a 50 day moving average of $56.25 and a 200 day moving average of $53.47. Nike has a 52-week low of $49.01 and a 52-week high of $60.33.

Nike (NYSE:NKE) last released its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.15. The firm had revenue of $8.43 billion for the quarter, compared to analysts’ expectations of $8.47 billion. Nike had a return on equity of 31.70% and a net margin of 11.60%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS.

Hedge funds have recently bought and sold shares of the company. Hudson Valley Investment Advisors Inc. ADV increased its stake in Nike by 12.6% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,447 shares of the footwear maker’s stock valued at $2,310,000 after buying an additional 4,627 shares during the last quarter. Wagner Bowman Management Corp increased its stake in Nike by 2.2% in the first quarter. Wagner Bowman Management Corp now owns 51,313 shares of the footwear maker’s stock valued at $2,859,000 after buying an additional 1,082 shares during the last quarter. Raub Brock Capital Management LP increased its stake in Nike by 5.5% in the first quarter. Raub Brock Capital Management LP now owns 245,981 shares of the footwear maker’s stock valued at $13,709,000 after buying an additional 12,730 shares during the last quarter. Monarch Capital Management Inc. increased its stake in Nike by 1.4% in the first quarter. Monarch Capital Management Inc. now owns 5,495 shares of the footwear maker’s stock valued at $306,000 after buying an additional 75 shares during the last quarter. Finally, Cape Cod Five Cents Savings Bank increased its stake in Nike by 0.7% in the first quarter. Cape Cod Five Cents Savings Bank now owns 106,452 shares of the footwear maker’s stock valued at $5,933,000 after buying an additional 696 shares during the last quarter. Institutional investors own 62.23% of the company’s stock.

In other Nike news, CAO Hilary K. Krane sold 65,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $56.00, for a total transaction of $3,640,000.00. Following the transaction, the chief accounting officer now owns 270,795 shares in the company, valued at approximately $15,164,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David J. Ayre sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $53.08, for a total value of $10,616,000.00. Following the transaction, the executive vice president now owns 357,713 shares in the company, valued at approximately $18,987,406.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 665,000 shares of company stock worth $36,333,500. 3.90% of the stock is owned by company insiders.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Monday, March 6th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. Nike’s dividend payout ratio is presently 31.72%.

Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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