NIKE (NYSE:NKE) Announces Earnings Results, Beats Estimates By $0.15 EPS

NIKE (NYSE:NKE) posted its quarterly earnings results on Thursday. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the business earned $1.03 earnings per share. The business’s revenue was down 7.7% compared to the same quarter last year.

NIKE Trading Up 0.3 %

Shares of NIKE stock opened at $77.10 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $78.18 and a 200-day simple moving average of $80.77. The stock has a market cap of $115.60 billion, a price-to-earnings ratio of 22.09, a PEG 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.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NKE. Telsey Advisory Group dropped their price objective on shares of NIKE from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Monday. TD Cowen reduced their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. UBS Group lowered their price objective on NIKE from $82.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Bank of America decreased their price target on NIKE from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, December 5th. Finally, Jefferies Financial Group boosted their price objective on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.73.

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.