Zacks Research Comments on NIKE, Inc.’s Q4 2023 Earnings (NYSE:NKE)

NIKE, Inc. (NYSE:NKE – Get Rating) – Equities researchers at Zacks Research upped their Q4 2023 earnings per share (EPS) estimates for shares of NIKE in a report released on Monday, May 22nd. Zacks Research analyst R. Lohia now expects that the footwear maker will earn $0.60 per share for the quarter, up from their prior estimate of $0.59. The consensus estimate for NIKE’s current full-year earnings is $3.24 per share. Zacks Research also issued estimates for NIKE’s Q1 2024 earnings at $0.95 EPS, Q4 2024 earnings at $0.65 EPS, Q2 2025 earnings at $1.03 EPS and FY2025 earnings at $4.10 EPS.

Other equities research analysts also recently issued research reports about the company. Wedbush cut their price target on NIKE from $145.00 to $139.00 and set an “outperform” rating for the company in a report on Wednesday, March 22nd. Guggenheim lifted their target price on NIKE from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, March 22nd. Barclays raised NIKE from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $154.00 in a report on Wednesday, March 22nd. Credit Suisse Group boosted their price target on NIKE from $132.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, March 22nd. Finally, Piper Sandler lifted their target price on NIKE from $105.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, March 22nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.33.

NIKE Price Performance

NYSE:NKE opened at $107.48 on Thursday. NIKE has a 1-year low of $82.22 and a 1-year high of $131.31. The company has a current ratio of 2.73, a quick ratio of 1.79 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $121.66 and a 200 day simple moving average of $118.54. The stock has a market capitalization of $165.20 billion, a PE ratio of 30.97, a P/E/G ratio of 3.16 and a beta of 1.11.

NIKE (NYSE:NKE – Get Rating) last issued its quarterly earnings results on Tuesday, March 21st. The footwear maker reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.24. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.48 billion. NIKE had a net margin of 10.82% and a return on equity of 35.98%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $0.87 EPS.

Institutional Trading of NIKE

A number of large investors have recently added to or reduced their stakes in NKE. Moneta Group Investment Advisors LLC raised its holdings in NIKE by 139,649.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock worth $1,967,325,000 after acquiring an additional 16,801,276 shares during the period. Norges Bank bought a new stake in shares of NIKE during the fourth quarter worth approximately $1,345,203,000. Morgan Stanley grew its holdings in NIKE by 26.4% during the fourth quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after purchasing an additional 6,410,744 shares during the period. Marshall Wace LLP grew its holdings in NIKE by 364.3% during the fourth quarter. Marshall Wace LLP now owns 2,845,044 shares of the footwear maker’s stock valued at $332,899,000 after purchasing an additional 2,232,240 shares during the period. Finally, FMR LLC boosted its holdings in shares of NIKE by 11.8% in the first quarter. FMR LLC now owns 19,087,757 shares of the footwear maker’s stock valued at $2,340,922,000 after buying an additional 2,011,891 shares during the period. 63.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $119.25, for a total value of $13,117,500.00. Following the sale, the chairman now owns 1,376,961 shares of the company’s stock, valued at approximately $164,202,599.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other NIKE news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $126.03, for a total value of $35,540.46. Following the completion of the transaction, the vice president now directly owns 3,518 shares of the company’s stock, valued at approximately $443,373.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $119.25, for a total transaction of $13,117,500.00. Following the transaction, the chairman now directly owns 1,376,961 shares in the company, valued at approximately $164,202,599.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,282 shares of company stock valued at $26,447,640. 0.40% of the stock is currently owned by insiders.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Monday, June 5th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, June 2nd. NIKE’s payout ratio is 39.19%.

NIKE Company Profile

(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.