Nike Inc (NKE) Expected to Post Quarterly Sales of $9.50 Billion

Analysts expect Nike Inc (NYSE:NKE) to report $9.50 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Nike’s earnings, with the lowest sales estimate coming in at $9.37 billion and the highest estimate coming in at $9.57 billion. Nike reported sales of $8.98 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.8%. The company is scheduled to announce its next quarterly earnings report after the market closes on Thursday, March 21st.

On average, analysts expect that Nike will report full year sales of $39.12 billion for the current fiscal year, with estimates ranging from $38.85 billion to $39.39 billion. For the next fiscal year, analysts anticipate that the company will report sales of $42.25 billion, with estimates ranging from $41.61 billion to $42.60 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Nike.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.06. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. Nike had a net margin of 5.66% and a return on equity of 44.85%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS.

Several brokerages have recently commented on NKE. Credit Suisse Group set a $90.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Wednesday, January 2nd. Macquarie set a $98.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Tuesday, December 4th. UBS Group set a $78.00 target price on shares of Nike and gave the company a “neutral” rating in a research note on Thursday, December 27th. Wells Fargo & Co set a $82.00 target price on shares of Nike and gave the company a “neutral” rating in a research note on Monday, November 19th. Finally, Robert W. Baird restated a “buy” rating and issued a $94.00 target price on shares of Nike in a research note on Monday, November 19th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Nike has an average rating of “Buy” and an average price target of $84.59.

In other Nike news, EVP John F. Slusher sold 200,000 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the transaction, the executive vice president now directly owns 284,805 shares in the company, valued at approximately $21,089,810.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $73.68, for a total transaction of $11,052,000.00. Following the transaction, the chairman now owns 1,687,863 shares in the company, valued at $124,361,745.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 800,000 shares of company stock worth $61,862,000. 3.90% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Next Capital Management LLC acquired a new position in Nike during the 4th quarter valued at about $26,000. Gemmer Asset Management LLC lifted its position in Nike by 54.2% during the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Clarfeld Financial Advisors LLC acquired a new position in Nike during the 4th quarter valued at about $34,000. Acima Private Wealth LLC acquired a new position in Nike during the 4th quarter valued at about $39,000. Finally, Proffitt & Goodson Inc. acquired a new position in Nike during the 4th quarter valued at about $44,000. Institutional investors own 64.85% of the company’s stock.

Shares of NYSE:NKE traded down $0.07 on Friday, hitting $86.80. The stock had a trading volume of 11,030,354 shares, compared to its average volume of 6,245,135. Nike has a twelve month low of $63.21 and a twelve month high of $87.99. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14. The company has a market capitalization of $136.72 billion, a PE ratio of 35.87, a P/E/G ratio of 2.64 and a beta of 0.68.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.88 annualized dividend and a yield of 1.01%. Nike’s dividend payout ratio (DPR) is 36.36%.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Earnings History and Estimates for Nike (NYSE:NKE)

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