FY2023 EPS Estimates for NIKE, Inc. (NYSE:NKE) Lifted by Analyst

NIKE, Inc. (NYSE:NKE – Get Rating) – Equities researchers at Seaport Res Ptn raised their FY2023 earnings estimates for shares of NIKE in a note issued to investors on Thursday, March 16th. Seaport Res Ptn analyst M. Kummetz now anticipates that the footwear maker will post earnings of $3.10 per share for the year, up from their prior estimate of $3.02. The consensus estimate for NIKE’s current full-year earnings is $3.14 per share. Seaport Res Ptn also issued estimates for NIKE’s FY2024 earnings at $3.97 EPS and FY2025 earnings at $4.52 EPS.

NIKE (NYSE:NKE – Get Rating) last announced its quarterly earnings results on Tuesday, December 20th. The footwear maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.20. The firm had revenue of $13.32 billion for the quarter, compared to analysts’ expectations of $12.61 billion. NIKE had a return on equity of 36.83% and a net margin of 11.47%.

A number of other analysts have also weighed in on NKE. Sanford C. Bernstein set a $122.00 price objective on NIKE in a research note on Monday, January 2nd. Barclays increased their price objective on NIKE from $109.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 14th. OTR Global upgraded NIKE from a “mixed” rating to a “positive” rating in a report on Friday, March 10th. Cowen increased their price objective on NIKE from $131.00 to $141.00 in a report on Tuesday, January 10th. Finally, BMO Capital Markets raised their price target on NIKE from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, December 21st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $129.66.

NIKE Stock Down 0.2 %

Shares of NYSE NKE opened at $120.39 on Friday. NIKE has a one year low of $82.22 and a one year high of $139.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.69 and a quick ratio of 1.78. The firm’s 50 day simple moving average is $123.67 and its two-hundred day simple moving average is $109.92. The stock has a market capitalization of $186.67 billion, a P/E ratio of 33.91, a PEG ratio of 3.79 and a beta of 1.10.

Institutional Investors Weigh In On NIKE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Accel Wealth Management boosted its holdings in NIKE by 80.6% in the fourth quarter. Accel Wealth Management now owns 224 shares of the footwear maker’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Legend Financial Advisors Inc. lifted its holdings in shares of NIKE by 164.8% in the 4th quarter. Legend Financial Advisors Inc. now owns 241 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 150 shares during the last quarter. Turim 21 Investimentos Ltda. lifted its holdings in shares of NIKE by 821.1% in the 3rd quarter. Turim 21 Investimentos Ltda. now owns 350 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 312 shares during the last quarter. Financial Freedom LLC acquired a new position in NIKE in the 4th quarter valued at about $29,000. Finally, Ruedi Wealth Management Inc. acquired a new position in NIKE in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 63.20% of the company’s stock.

Insider Activity

In other news, Director Peter B. Henry acquired 557 shares of the business’s stock in a transaction dated Tuesday, February 7th. The shares were acquired at an average cost of $125.45 per share, with a total value of $69,875.65. Following the completion of the acquisition, the director now owns 4,062 shares of the company’s stock, valued at $509,577.90. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other NIKE news, Director Peter B. Henry purchased 557 shares of the stock in a transaction on Tuesday, February 7th. The shares were bought at an average price of $125.45 per share, for a total transaction of $69,875.65. Following the completion of the transaction, the director now owns 4,062 shares of the company’s stock, valued at approximately $509,577.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the transaction, the executive vice president now owns 60,213 shares in the company, valued at approximately $7,466,412. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 6th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, March 3rd. NIKE’s dividend payout ratio is presently 38.31%.

About NIKE

(Get Rating)

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.