Nike (NKE) to Post Q1 2019 Earnings of $0.59 Per Share, Oppenheimer Forecasts

Nike (NYSE:NKE) – Investment analysts at Oppenheimer lowered their Q1 2019 earnings per share estimates for Nike in a research report issued to clients and investors on Thursday, April 19th. Oppenheimer analyst A. Andreeva now forecasts that the footwear maker will post earnings of $0.59 per share for the quarter, down from their previous forecast of $0.63. Oppenheimer currently has a “Buy” rating on the stock. Oppenheimer also issued estimates for Nike’s Q2 2019 earnings at $0.50 EPS and Q3 2019 earnings at $0.67 EPS.

A number of other brokerages have also commented on NKE. Stifel Nicolaus lifted their price target on Nike from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Citigroup reissued a “buy” rating and set a $78.00 price target (up from $74.00) on shares of Nike in a research note on Wednesday, January 31st. Zacks Investment Research downgraded Nike from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Canaccord Genuity set a $62.00 price objective on Nike and gave the stock a “hold” rating in a research report on Sunday, April 8th. Finally, Buckingham Research raised their price objective on Nike from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $68.55.

Shares of NKE stock opened at $66.97 on Monday. Nike has a 12 month low of $50.35 and a 12 month high of $70.25. The stock has a market cap of $107,524.39, a PE ratio of 26.68, a PEG ratio of 2.79 and a beta of 0.65. The company has a current ratio of 2.66, a quick ratio of 1.73 and a debt-to-equity ratio of 0.35.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 22nd. The footwear maker reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.15. Nike had a return on equity of 33.38% and a net margin of 5.11%. The firm had revenue of $8.98 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same period last year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 5th were paid a $0.20 dividend. The ex-dividend date was Friday, March 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. Nike’s dividend payout ratio (DPR) is presently 31.87%.

In other Nike news, insider Eric D. Sprunk sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total value of $6,766,000.00. Following the completion of the sale, the insider now owns 227,199 shares of the company’s stock, valued at $15,372,284.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the completion of the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in shares of Nike by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 14,472,375 shares of the footwear maker’s stock valued at $903,432,000 after buying an additional 336,633 shares during the last quarter. Edgewood Management LLC boosted its position in shares of Nike by 15.7% during the third quarter. Edgewood Management LLC now owns 14,245,826 shares of the footwear maker’s stock valued at $738,646,000 after buying an additional 1,936,811 shares during the last quarter. Polen Capital Management LLC boosted its position in shares of Nike by 1.2% during the fourth quarter. Polen Capital Management LLC now owns 12,741,989 shares of the footwear maker’s stock valued at $797,011,000 after buying an additional 155,509 shares during the last quarter. Harding Loevner LP boosted its position in shares of Nike by 97.1% during the third quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock valued at $390,421,000 after buying an additional 5,987,728 shares during the last quarter. Finally, Capital International Investors boosted its position in shares of Nike by 16.8% during the third quarter. Capital International Investors now owns 9,790,960 shares of the footwear maker’s stock valued at $507,661,000 after buying an additional 1,405,035 shares during the last quarter. 65.62% of the stock is currently owned by institutional investors.

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About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

Earnings History and Estimates for Nike (NYSE:NKE)

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