NIKE (NKE) Projected to Post Quarterly Earnings on Thursday

NIKE (NYSE:NKE) is expected to be announcing its earnings results after the market closes on Thursday, March 20th. Analysts expect the company to announce earnings of $0.28 per share and revenue of $11.02 billion for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the company earned $1.03 EPS. NIKE’s revenue was down 7.7% on a year-over-year basis. On average, analysts expect NIKE to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NIKE Stock Up 3.0 %

Shares of NYSE:NKE opened at $73.78 on Tuesday. NIKE has a one year low of $68.62 and a one year high of $101.92. The company has a 50 day moving average of $74.71 and a 200-day moving average of $77.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market cap of $109.13 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A hedge fund recently raised its stake in NIKE stock. Brighton Jones LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 388.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,411 shares of the footwear maker’s stock after buying an additional 160,980 shares during the period. Brighton Jones LLC’s holdings in NIKE were worth $15,316,000 at the end of the most recent quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NKE shares. Bank of America lowered their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. BMO Capital Markets increased their price objective on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Guggenheim reissued a “buy” rating and set a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Finally, Truist Financial lowered their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $89.54.

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.