NIKE (NKE) will release its quarterly results on Thursday

NIKE (NYSE:NKE – Get Rating) is expected to report results after market close on Thursday, September 29. Analysts expect the company to report earnings of $0.93 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

NIKE (NYSE:NKE – Get Rating) last released its quarterly results on Monday, June 27. The shoemaker reported earnings per share of $0.90 for the quarter, beating analysts’ consensus estimate of $0.81 by $0.09. The company posted revenue of $12.20 billion in the quarter, versus a consensus estimate of $12.10 billion. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company’s quarterly revenue fell 0.8% year-over-year. During the same period last year, the company achieved EPS of $0.93. On average, analysts expect NIKE to post EPS of $4 for the current fiscal year and EPS of $5 for the next fiscal year.

Performance of NIKE shares

NYSE NKE shares opened at $99.79 on Thursday. The company has a debt ratio of 0.58, a quick ratio of 1.84 and a current ratio of 2.63. The company has a market capitalization of $156.53 billion, a price/earnings ratio of 26.54, a P/E/G ratio of 2.27 and a beta of 1.03. The company’s 50-day simple moving average is $109.92 and its 200-day simple moving average is $116.11. NIKE has a 52-week low of $99.53 and a 52-week high of $179.10.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3. Shareholders of record on Tuesday, September 6 will receive a dividend of $0.305 per share. This represents a dividend of $1.22 on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, September 2. NIKE’s dividend payout ratio is 32.45%.

NIKE said its board approved a stock repurchase plan on Monday, June 27 that authorizes the company to repurchase $18.00 billion in outstanding stock. This repurchase authorization allows the shoemaker to repurchase up to 11% of its shares through open market purchases. Stock repurchase plans often indicate that the company’s board believes its stock is undervalued.

Analysts set new price targets

NKE has been the subject of several analyst reports. Piper Sandler dropped a cover on NIKE in a Wednesday, August 3 report. They set a “neutral” rating and a price target of $115.00 on the stock. HSBC lowered its price target on NIKE from $140.00 to $132.00 and set a “hold” rating on the stock in a Tuesday, June 14 report. Wells Fargo & Company lowered its price target on NIKE from $150.00 to $130.00 and set an “overweight” rating on the stock in a Tuesday, June 28 report. Wedbush lowered its target price on NIKE from $130.00 to $121.00 in a Friday, September 9 report. Finally, JPMorgan Chase & Co. set a target price of $130.00 on NIKE in a Wednesday, August 10 report. Eleven investment analysts gave the stock a hold rating and eighteen gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.88.

Insider buying and selling

In related news, COO Andrew Campion sold 5,922 shares of the company in a trade that took place on Wednesday, August 3. The stock was sold at an average price of $113.42, for a total transaction of $671,673.24. Following the completion of the transaction, the COO now owns 75,295 shares of the company, valued at approximately $8,539,958.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. In other NIKE news, COO Andrew Campion sold 5,922 NIKE shares in a trade on Wednesday August 3rd. The stock was sold at an average price of $113.42, for a total value of $671,673.24. Following the completion of the transaction, the COO now owns 75,295 shares of the company, valued at approximately $8,539,958.90. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, director John W. Rogers, Jr. acquired 10,000 shares of the company in a transaction on Thursday, June 30. The shares were acquired at an average price of $102.96 per share, with a total value of $1,029,600.00. Following the transaction, the administrator now owns 25,681 shares of the company, valued at approximately $2,644,115.76. Disclosure of this purchase can be found here. Insiders sold 59,561 shares of the company worth $6,374,094 in the past 90 days. 0.40% of the shares are held by insiders of the company.

Hedge funds weigh on NIKE

Several institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC increased its stake in NIKE shares by 221.5% in the 1st quarter. Lazard Asset Management LLC now owns 2,046,445 shares of the shoemaker valued at $275,368,000 after purchasing an additional 1,409,913 shares during the period. Charles Schwab Investment Management Inc. increased its stake in NIKE shares by 2.5% in Q1. Charles Schwab Investment Management Inc. now owns 7,646,168 shares of the shoemaker valued at $1,028,869,000 after purchasing an additional 189,454 shares during the period. Soros Fund Management LLC increased its stake in NIKE shares by 169.9% in Q1. Soros Fund Management LLC now owns 296,894 shares of the shoemaker valued at $39,950,000 after purchasing an additional 186,894 shares during the period. First Trust Advisors LP increased its equity stake in NIKE to 76.3% in Q1. First Trust Advisors LP now owns 171,519 shares of the shoemaker valued at $23,080,000 after buying an additional 74,257 shares during the period. Finally, Mariner LLC increased its stake in NIKE shares by 7.8% in the 1st quarter. Mariner LLC now owns 661,677 shares of the shoemaker valued at $89,038,000 after purchasing an additional 47,969 shares during the period. Institutional investors hold 64.19% of the company’s shares.

NIKE Company Profile

(Get a rating)

NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for men, women and children worldwide. The Company provides athletic and recreational footwear, apparel and accessories under the Jumpman brand; and casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell brands.

See also

Earnings history for NIKE (NYSE: NKE)

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