NIKE, Inc. (NYSE:NKE – Get Rating) – Seaport Res Ptn issued their Q1 2023 earnings per share estimates for shares of NIKE in a report released on Tuesday, June 28th. Seaport Res Ptn analyst M. Kummetz anticipates that the footwear maker will earn $1.07 per share for the quarter. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for NIKE’s current full-year earnings is $3.68 per share. Seaport Res Ptn also issued estimates for NIKE’s Q2 2023 earnings at $0.82 EPS, Q3 2023 earnings at $1.00 EPS, Q4 2023 earnings at $1.00 EPS and FY2023 earnings at $3.90 EPS.
NIKE (NYSE:NKE – Get Rating) last released its earnings results on Monday, June 27th. The footwear maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.81 by $0.09. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $12.10 billion. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS.
Several other equity analysts have also recently commented on the company. Deutsche Bank Rese… set a $130.00 target price on NIKE in a research note on Tuesday. UBS Group reduced their price objective on NIKE from $173.00 to $168.00 and set a “buy” rating on the stock in a research note on Wednesday, June 15th. Robert W. Baird reduced their price objective on NIKE from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday. Telsey Advisory Group reduced their price objective on NIKE from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley reduced their price objective on NIKE from $159.00 to $149.00 and set an “overweight” rating on the stock in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.96.
NIKE stock opened at $102.20 on Wednesday. The stock has a market cap of $160.84 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The company has a current ratio of 3.06, a quick ratio of 2.18 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average of $114.37 and a 200-day moving average of $132.88. NIKE has a 52 week low of $100.78 and a 52 week high of $179.10.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank increased its position in NIKE by 4.5% in the 1st quarter. Amalgamated Bank now owns 334,607 shares of the footwear maker’s stock worth $45,025,000 after buying an additional 14,360 shares during the period. Kalos Management Inc. increased its position in NIKE by 25.8% in the 1st quarter. Kalos Management Inc. now owns 2,636 shares of the footwear maker’s stock worth $350,000 after buying an additional 540 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of NIKE during the 1st quarter worth approximately $90,000. Offit Capital Advisors LLC grew its holdings in shares of NIKE by 9.4% during the 1st quarter. Offit Capital Advisors LLC now owns 13,355 shares of the footwear maker’s stock worth $1,797,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Paragon Private Wealth Management LLC grew its holdings in shares of NIKE by 7.6% during the 1st quarter. Paragon Private Wealth Management LLC now owns 10,458 shares of the footwear maker’s stock worth $1,257,000 after purchasing an additional 742 shares in the last quarter. 65.35% of the stock is currently owned by institutional investors.
In other NIKE news, CFO Matthew Friend sold 9,032 shares of NIKE stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $110.52, for a total value of $998,216.64. Following the transaction, the chief financial officer now directly owns 51,581 shares of the company’s stock, valued at approximately $5,700,732.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Andrew Campion sold 14,203 shares of NIKE stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $120.61, for a total value of $1,713,023.83. Following the completion of the transaction, the chief operating officer now directly owns 73,795 shares in the company, valued at $8,900,414.95. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Monday, June 6th will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, June 3rd. NIKE’s payout ratio is 32.19%.
About NIKE: (Get Rating)
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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.
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