Nike (NKE) Receives $68.93 Consensus PT from Analysts

Nike (NYSE:NKE) has earned an average rating of “Hold” from the forty-four brokerages that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and twenty-five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $68.93.

NKE has been the subject of several recent research reports. TheStreet cut Nike from a “b+” rating to a “c+” rating in a report on Thursday, March 22nd. Zacks Investment Research cut Nike from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Citigroup reissued a “buy” rating and set a $78.00 price objective (up from $74.00) on shares of Nike in a report on Wednesday, January 31st. Buckingham Research boosted their price objective on Nike from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, Oppenheimer raised Nike to a “buy” rating in a report on Wednesday, January 31st.

Nike stock opened at $71.31 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.66 and a quick ratio of 1.73. Nike has a 12-month low of $50.35 and a 12-month high of $72.19. The stock has a market capitalization of $116.13 billion, a P/E ratio of 30.90, a price-to-earnings-growth ratio of 3.42 and a beta of 0.64.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.15. The firm had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $8.85 billion. Nike had a return on equity of 33.38% and a net margin of 5.11%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. sell-side analysts predict that Nike will post 2.33 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Monday, June 4th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. Nike’s dividend payout ratio is presently 31.87%.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $70.00, for a total value of $9,450,000.00. Following the sale, the chairman now owns 1,637,736 shares in the company, valued at approximately $114,641,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $70.00, for a total value of $3,500,000.00. Following the completion of the sale, the insider now owns 191,959 shares in the company, valued at approximately $13,437,130. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Field & Main Bank bought a new stake in Nike in the 4th quarter valued at approximately $100,000. Wagner Wealth Management LLC bought a new stake in Nike in the 4th quarter valued at approximately $103,000. G&S Capital LLC bought a new stake in Nike in the 4th quarter valued at approximately $112,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Nike in the 4th quarter valued at approximately $116,000. Finally, SeaCrest Wealth Management LLC bought a new stake in Nike in the 4th quarter valued at approximately $128,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

Analyst Recommendations for Nike (NYSE:NKE)

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