NIKE (NYSE:NKE) Announces Quarterly Earnings Results

NIKE (NYSE:NKE) released its earnings results on Thursday. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15, Zacks reports. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the firm earned $1.03 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis.

NIKE Stock Performance

Shares of NYSE NKE traded up $0.20 during midday trading on Thursday, hitting $77.10. 19,973,981 shares of the company’s stock were exchanged, compared to its average volume of 11,521,860. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $115.60 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The company’s 50 day moving average price is $78.28 and its 200 day moving average price is $80.80.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.08%. NIKE’s dividend payout ratio is currently 45.85%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Bank of America lowered their price objective on NIKE from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Piper Sandler reissued a “neutral” rating and set a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and raised their price objective for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Finally, Jefferies Financial Group raised their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.15.

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.