NIKE (NYSE:NKE) Announces Quarterly Earnings Results, Beats Expectations By $0.15 EPS

NIKE (NYSE:NKE) announced its quarterly earnings results on Thursday. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15, Zacks reports. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share.

NIKE Price Performance

NKE opened at $76.94 on Friday. NIKE has a 1 year low of $70.75 and a 1 year high of $123.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company’s 50 day simple moving average is $78.07 and its 200 day simple moving average is $80.65. The stock has a market capitalization of $115.36 billion, a PE ratio of 22.05, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 45.85%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. UBS Group reduced their target price on NIKE from $80.00 to $73.00 and set a “neutral” rating for the company in a report on Friday. Barclays reduced their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday. Wells Fargo & Company lowered their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Finally, Bank of America dropped their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.77.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.