$12.44 Billion in Sales Expected for NIKE, Inc. (NYSE:NKE) This Quarter

Equities analysts expect NIKE, Inc. (NYSE:NKEGet Rating) to report sales of $12.44 billion for the current quarter, Zacks reports. Eleven analysts have made estimates for NIKE’s earnings, with the highest sales estimate coming in at $12.80 billion and the lowest estimate coming in at $12.27 billion. NIKE posted sales of $12.34 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.8%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that NIKE will report full-year sales of $46.88 billion for the current year, with estimates ranging from $46.74 billion to $47.02 billion. For the next financial year, analysts anticipate that the business will post sales of $52.96 billion, with estimates ranging from $51.42 billion to $54.52 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for NIKE.

NIKE (NYSE:NKEGet Rating) last released its quarterly earnings results on Monday, March 21st. The footwear maker reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.16. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The firm had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.61 billion. During the same quarter last year, the company posted $0.90 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis.

A number of brokerages have weighed in on NKE. Sanford C. Bernstein began coverage on NIKE in a report on Monday, March 14th. They issued an “outperform” rating and a $160.00 price objective on the stock. Morgan Stanley lowered their price objective on NIKE from $202.00 to $192.00 and set an “overweight” rating on the stock in a report on Tuesday, March 15th. Telsey Advisory Group decreased their price target on NIKE from $190.00 to $165.00 and set an “outperform” rating on the stock in a research note on Friday, March 18th. UBS Group set a $173.00 price target on NIKE in a research note on Tuesday, March 22nd. Finally, StockNews.com began coverage on NIKE in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $170.86.

In other news, Chairman Mark G. Parker sold 100,000 shares of the company’s stock in a transaction on Wednesday, January 26th. The stock was sold at an average price of $146.39, for a total transaction of $14,639,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in NIKE by 2.7% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,099,134 shares of the footwear maker’s stock worth $147,900,000 after purchasing an additional 29,413 shares during the period. Redpoint Investment Management Pty Ltd boosted its position in NIKE by 1.2% during the 1st quarter. Redpoint Investment Management Pty Ltd now owns 31,530 shares of the footwear maker’s stock worth $4,243,000 after purchasing an additional 386 shares during the period. Guinness Asset Management LTD boosted its position in NIKE by 2.2% during the 1st quarter. Guinness Asset Management LTD now owns 171,537 shares of the footwear maker’s stock worth $23,082,000 after purchasing an additional 3,774 shares during the period. Hexagon Capital Partners LLC boosted its position in NIKE by 13.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,687 shares of the footwear maker’s stock worth $227,000 after purchasing an additional 200 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in NIKE by 304.7% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 10,550 shares of the footwear maker’s stock worth $1,437,000 after purchasing an additional 7,943 shares during the period. 64.58% of the stock is owned by hedge funds and other institutional investors.

Shares of NKE opened at $127.49 on Thursday. NIKE has a twelve month low of $116.75 and a twelve month high of $179.10. The stock’s 50 day moving average is $133.88 and its two-hundred day moving average is $151.22. The firm has a market capitalization of $201.60 billion, a PE ratio of 33.64, a P/E/G ratio of 2.47 and a beta of 0.96. The company has a current ratio of 3.06, a quick ratio of 2.18 and a debt-to-equity ratio of 0.64.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Monday, March 7th were issued a dividend of $0.305 per share. The ex-dividend date was Friday, March 4th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.96%. NIKE’s payout ratio is 32.19%.

About NIKE (Get Rating)

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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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Earnings History and Estimates for NIKE (NYSE:NKE)

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