NIKE (NYSE:NKE) Issues Earnings Results

NIKE (NYSE:NKE) released its quarterly earnings results on Thursday. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16, RTT News reports. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $0.66 earnings per share.

NIKE Stock Down 20.0 %

NIKE stock opened at $75.36 on Friday. The company has a market capitalization of $113.75 billion, a P/E ratio of 20.20, a PEG ratio of 1.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE has a fifty-two week low of $74.55 and a fifty-two week high of $123.39. The stock has a 50-day simple moving average of $93.28 and a 200-day simple moving average of $99.15.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last quarter. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NKE. Truist Financial decreased their target price on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Telsey Advisory Group dropped their price objective on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday. Raymond James reiterated a “market perform” rating on shares of NIKE in a report on Friday. Finally, Piper Sandler dropped their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $98.96.

NIKE Company Profile

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.