Jefferies Group LLC set a $49.00 price target on Nike, Inc. (NYSE:NKE) in a research report released on Tuesday morning, Marketbeat.com reports. The firm currently has a hold rating on the footwear maker’s stock. Jefferies Group also issued estimates for Nike’s Q1 2018 earnings at $0.46 EPS, Q2 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at $0.64 EPS, FY2018 earnings at $2.26 EPS, FY2019 earnings at $2.61 EPS and FY2020 earnings at $2.83 EPS.
Other research analysts have also issued reports about the company. Berenberg Bank reiterated a buy rating and set a $70.00 price target on shares of Nike in a report on Wednesday, June 14th. Vetr upgraded Nike from a hold rating to a buy rating and set a $55.06 price target for the company in a report on Thursday, June 15th. Goldman Sachs Group, Inc. (The) set a $62.00 price target on Nike and gave the stock a buy rating in a report on Friday, June 16th. Deutsche Bank AG set a $63.00 price target on Nike and gave the stock a buy rating in a report on Tuesday, June 20th. Finally, Credit Suisse Group set a $63.00 price target on Nike and gave the stock a buy rating in a report on Saturday, June 24th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $60.04.
Shares of Nike (NYSE:NKE) opened at 53.19 on Tuesday. The firm has a market cap of $87.40 billion, a P/E ratio of 21.19 and a beta of 0.61. Nike has a 52-week low of $49.01 and a 52-week high of $60.53. The stock’s 50 day moving average is $55.57 and its 200-day moving average is $55.39.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. During the same period in the previous year, the company earned $0.49 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts anticipate that Nike will post $2.41 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.34%. The ex-dividend date is Thursday, August 31st. Nike’s payout ratio is 28.69%.
In other news, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.40, for a total transaction of $339,886.80. Following the sale, the chief financial officer now owns 34,976 shares of the company’s stock, valued at $2,077,574.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Hilary K. Krane sold 28,072 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $58.10, for a total value of $1,630,983.20. Following the sale, the chief accounting officer now directly owns 177,723 shares in the company, valued at approximately $10,325,706.30. The disclosure for this sale can be found here. Insiders sold 508,360 shares of company stock worth $29,340,374 in the last three months. Insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKE. V Wealth Management LLC acquired a new stake in shares of Nike during the second quarter worth about $100,000. Webster Bank N. A. raised its position in shares of Nike by 75.5% during the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after purchasing an additional 900 shares during the period. Asset Planning Services Ltd. raised its position in shares of Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the period. Atlantic Trust LLC acquired a new stake in shares of Nike during the second quarter worth about $136,000. Finally, Rational Advisors LLC raised its position in shares of Nike by 14.3% during the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after purchasing an additional 321 shares during the period. 62.63% of the stock is currently owned by institutional investors.
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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