Zacks: Brokerages Anticipate Nike Inc (NKE) Will Post Earnings of $0.62 Per Share
Brokerages expect that Nike Inc (NYSE:NKE) will report earnings of $0.62 per share for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Nike’s earnings, with the highest EPS estimate coming in at $0.67 and the lowest estimate coming in at $0.56. Nike posted earnings per share of $0.57 in the same quarter last year, which suggests a positive year-over-year growth rate of 8.8%. The company is scheduled to report its next earnings results after the market closes on Tuesday, September 25th.
According to Zacks, analysts expect that Nike will report full year earnings of $2.62 per share for the current year, with EPS estimates ranging from $2.50 to $2.75. For the next year, analysts expect that the firm will report earnings of $3.09 per share, with EPS estimates ranging from $2.85 to $3.30. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Nike.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 28th. The footwear maker reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.05. Nike had a return on equity of 36.57% and a net margin of 5.31%. The firm had revenue of $9.79 billion for the quarter, compared to analysts’ expectations of $9.40 billion. During the same period last year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis.
Shares of NYSE:NKE traded up $1.75 during trading on Thursday, reaching $85.01. 343,883 shares of the company’s stock traded hands, compared to its average volume of 6,462,149. Nike has a fifty-two week low of $50.35 and a fifty-two week high of $83.93. The company has a quick ratio of 1.63, a current ratio of 2.51 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $133.63 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.78 and a beta of 0.70.
Nike declared that its board has authorized a share buyback program on Thursday, June 28th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the footwear maker to purchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, August 31st. Nike’s dividend payout ratio (DPR) is 33.06%.
In other Nike news, EVP Monique S. Matheson sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total value of $1,413,550.00. Following the transaction, the executive vice president now directly owns 104,737 shares of the company’s stock, valued at approximately $8,708,881.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric D. Sprunk sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $79.07, for a total transaction of $11,860,500.00. Following the completion of the transaction, the insider now directly owns 241,959 shares in the company, valued at $19,131,698.13. The disclosure for this sale can be found here. Insiders sold a total of 332,778 shares of company stock worth $26,325,376 over the last three months. Corporate insiders own 3.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in shares of Nike by 11.1% during the 1st quarter. Victory Capital Management Inc. now owns 61,947 shares of the footwear maker’s stock valued at $4,116,000 after buying an additional 6,192 shares during the period. ETRADE Capital Management LLC purchased a new stake in shares of Nike during the 1st quarter valued at approximately $291,000. Fiduciary Trust Co. raised its position in shares of Nike by 2.2% during the 1st quarter. Fiduciary Trust Co. now owns 232,664 shares of the footwear maker’s stock valued at $15,459,000 after buying an additional 4,956 shares during the period. Aperio Group LLC raised its position in shares of Nike by 5.4% during the 1st quarter. Aperio Group LLC now owns 938,678 shares of the footwear maker’s stock valued at $62,366,000 after buying an additional 47,904 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of Nike by 46.8% during the 1st quarter. Thrivent Financial for Lutherans now owns 325,959 shares of the footwear maker’s stock valued at $21,657,000 after buying an additional 103,844 shares during the period. 63.95% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Article: Understanding Price to Earnings Ratio (PE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.