Equities analysts expect Nike Inc (NYSE:NKE) to post sales of $9.50 billion for the current quarter, according to Zacks. Nine analysts have issued estimates for Nike’s earnings. The lowest sales estimate is $9.37 billion and the highest is $9.57 billion. Nike posted sales of $8.98 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.8%. The business is expected to announce its next earnings results after the market closes on Thursday, March 21st.
On average, analysts expect that Nike will report full-year sales of $39.12 billion for the current fiscal year, with estimates ranging from $38.85 billion to $39.39 billion. For the next year, analysts forecast that the firm will report sales of $42.25 billion, with estimates ranging from $41.61 billion to $42.60 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Nike.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.06. Nike had a net margin of 5.66% and a return on equity of 44.85%. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis.
In other Nike news, EVP John F. Slusher sold 200,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total value of $14,810,000.00. Following the transaction, the executive vice president now directly owns 284,805 shares in the company, valued at $21,089,810.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $73.68, for a total transaction of $11,052,000.00. Following the completion of the transaction, the chairman now owns 1,687,863 shares in the company, valued at $124,361,745.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 800,000 shares of company stock worth $61,862,000. Corporate insiders own 3.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in NKE. Oregon Public Employees Retirement Fund boosted its position in shares of Nike by 6,517.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock valued at $476,000 after acquiring an additional 34,749,961 shares during the period. Norges Bank bought a new stake in shares of Nike in the fourth quarter valued at about $892,899,000. BlackRock Inc. boosted its position in shares of Nike by 4.3% in the fourth quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock valued at $6,395,928,000 after acquiring an additional 3,592,186 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Nike in the fourth quarter valued at about $224,658,000. Finally, AQR Capital Management LLC lifted its position in Nike by 352.5% during the third quarter. AQR Capital Management LLC now owns 3,839,908 shares of the footwear maker’s stock worth $325,317,000 after purchasing an additional 2,991,299 shares during the period. 64.97% of the stock is owned by institutional investors.
Shares of NYSE NKE traded up $0.42 during midday trading on Friday, reaching $85.23. The company’s stock had a trading volume of 1,206,564 shares, compared to its average volume of 6,262,985. The company has a quick ratio of 1.40, a current ratio of 2.14 and a debt-to-equity ratio of 0.40. Nike has a fifty-two week low of $63.21 and a fifty-two week high of $87.99. The company has a market capitalization of $133.46 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.62 and a beta of 0.69.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.03%. Nike’s dividend payout ratio is currently 36.36%.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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