Nike Inc (NKE) Forecasted to Earn FY2017 Earnings of $2.38 Per Share

Nike Inc (NYSE:NKE) – Analysts at DA Davidson upped their FY2017 EPS estimates for Nike in a research note issued on Wednesday, according to Zacks Investment Research. DA Davidson analyst A. Burns now anticipates that the footwear maker will post earnings per share of $2.38 for the year, up from their prior forecast of $2.28. DA Davidson has a “Buy” rating and a $64.00 price objective on the stock. DA Davidson also issued estimates for Nike’s Q4 2017 earnings at $0.48 EPS, Q1 2018 earnings at $0.68 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.55 EPS, FY2018 earnings at $2.46 EPS and FY2019 earnings at $2.80 EPS.

NKE has been the subject of a number of other research reports. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $60.31 price target for the company in a research note on Tuesday, January 3rd. Morgan Stanley set a $56.00 price objective on Nike and gave the company a “neutral” rating in a research report on Monday, March 13th. HSBC Holdings plc set a $64.00 price objective on Nike and gave the company a “buy” rating in a research report on Wednesday, January 11th. Forward View began coverage on Nike in a research report on Friday, January 27th. They set a “hold” rating and a $55.00 price objective for the company. Finally, Canaccord Genuity reissued a “hold” rating and set a $51.00 price objective on shares of Nike in a research report on Friday, December 23rd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company has an average 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. 6,049,287 shares of the company traded hands. Nike has a one year low of $49.01 and a one year high of $60.33. The stock’s 50 day moving average is $56.25 and its 200 day moving average is $53.47. The company has a market capitalization of $92.20 billion, a price-to-earnings ratio of 23.30 and a beta of 0.44.

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

Several large investors have recently modified their holdings of NKE. State Street Corp increased its stake in Nike by 4.6% in the fourth quarter. State Street Corp now owns 58,719,250 shares of the footwear maker’s stock worth $2,984,719,000 after buying an additional 2,563,166 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Nike by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 36,587,010 shares of the footwear maker’s stock worth $1,926,306,000 after buying an additional 662,231 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Nike by 0.5% in the third quarter. Bank of New York Mellon Corp now owns 29,211,934 shares of the footwear maker’s stock worth $1,538,008,000 after buying an additional 143,272 shares during the last quarter. Morgan Stanley increased its stake in Nike by 10.1% in the third quarter. Morgan Stanley now owns 22,764,806 shares of the footwear maker’s stock worth $1,198,567,000 after buying an additional 2,090,700 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Nike by 3.6% in the third quarter. Northern Trust Corp now owns 21,830,050 shares of the footwear maker’s stock worth $1,149,353,000 after buying an additional 755,061 shares during the last quarter. Institutional investors and hedge funds 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 on Tuesday, April 18th. The stock was sold at an average price of $56.00, for a total value of $3,640,000.00. Following the transaction, the chief accounting officer now owns 270,795 shares of the company’s stock, valued at approximately $15,164,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 100,000 shares of the company’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $52.94, for a total value of $5,294,000.00. Following the completion of the transaction, the chairman now directly owns 1,966,235 shares in the company, valued at approximately $104,092,480.90. The disclosure for this sale can be found here. Insiders sold a total of 665,000 shares of company stock worth $36,333,500 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Monday, March 6th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, March 2nd. Nike’s dividend payout ratio (DPR) is presently 31.72%.

About Nike

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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