NIKE (NYSE:NKE) Posts Earnings Results, Beats Expectations By $0.18 EPS

NIKE (NYSE:NKE) announced its earnings results on Tuesday. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18, Briefing.com reports. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the business earned $0.94 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis.

NIKE Stock Down 6.8 %

Shares of NKE opened at $83.10 on Thursday. The stock has a 50 day moving average price of $80.50 and a 200 day moving average price of $86.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market capitalization of $125.43 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 2.30 and a beta of 1.02. NIKE has a one year low of $70.75 and a one year high of $123.39.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. NIKE’s payout ratio is currently 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research analyst reports. Truist Financial decreased their price objective on shares of NIKE from $85.00 to $83.00 and set a “hold” rating for the company in a research report on Wednesday. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. TD Cowen boosted their price objective on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Wedbush dropped their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.04.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.