Equities analysts expect that NIKE, Inc. (NYSE:NKE) will announce sales of $12.56 billion for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for NIKE’s earnings. The lowest sales estimate is $12.30 billion and the highest is $12.90 billion. NIKE posted sales of $10.59 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.6%. The firm is expected to issue its next quarterly earnings results after the market closes on Thursday, September 23rd.
According to Zacks, analysts expect that NIKE will report full year sales of $50.25 billion for the current fiscal year, with estimates ranging from $49.80 billion to $51.25 billion. For the next fiscal year, analysts anticipate that the company will report sales of $55.15 billion, with estimates ranging from $54.69 billion to $55.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for NIKE.
NIKE (NYSE:NKE) last posted its quarterly earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.42. The firm had revenue of $12.30 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 12.86% and a return on equity of 51.41%. The company’s revenue for the quarter was up 94.8% on a year-over-year basis. During the same period last year, the firm posted ($0.51) earnings per share.
In other news, CAO Hilary K. Krane sold 21,500 shares of the business’s stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $153.16, for a total transaction of $3,292,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew Campion sold 7,125 shares of the business’s stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $171.50, for a total transaction of $1,221,937.50. The disclosure for this sale can be found here. Insiders sold 379,671 shares of company stock valued at $60,634,427 in the last quarter. 3.70% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in NIKE by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 104,646,829 shares of the footwear maker’s stock valued at $16,166,888,000 after purchasing an additional 483,565 shares during the last quarter. BlackRock Inc. raised its position in NIKE by 1.6% in the 1st quarter. BlackRock Inc. now owns 94,636,902 shares of the footwear maker’s stock valued at $12,576,298,000 after purchasing an additional 1,528,211 shares during the last quarter. State Street Corp raised its position in NIKE by 0.4% in the 2nd quarter. State Street Corp now owns 55,268,621 shares of the footwear maker’s stock valued at $8,553,435,000 after purchasing an additional 217,552 shares during the last quarter. Bank of New York Mellon Corp raised its position in NIKE by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 26,797,530 shares of the footwear maker’s stock valued at $3,561,122,000 after purchasing an additional 273,141 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in NIKE by 15.2% in the 2nd quarter. Alliancebernstein L.P. now owns 23,084,530 shares of the footwear maker’s stock valued at $3,566,329,000 after purchasing an additional 3,045,282 shares during the last quarter. Hedge funds and other institutional investors own 64.45% of the company’s stock.
Shares of NYSE:NKE traded down $0.76 during midday trading on Tuesday, hitting $158.76. The company’s stock had a trading volume of 5,258,111 shares, compared to its average volume of 6,287,462. The business’s 50 day simple moving average is $165.76 and its 200 day simple moving average is $146.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.01 and a current ratio of 2.72. The company has a market cap of $251.13 billion, a P/E ratio of 44.60, a price-to-earnings-growth ratio of 2.49 and a beta of 0.87. NIKE has a 12-month low of $111.74 and a 12-month high of $174.38.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Monday, August 30th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, August 27th. This represents a $1.10 dividend on an annualized basis and a yield of 0.69%. NIKE’s dividend payout ratio is currently 30.90%.
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.
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