NIKE, Inc. (NYSE:NKE – Get Rating) – Oppenheimer issued their Q2 2023 EPS estimates for shares of NIKE in a report released on Thursday, October 20th. Oppenheimer analyst B. Nagel forecasts that the footwear maker will earn $0.62 per share for the quarter. The consensus estimate for NIKE’s current full-year earnings is $3.09 per share. Oppenheimer also issued estimates for NIKE’s Q3 2023 earnings at $0.66 EPS, Q4 2023 earnings at $0.70 EPS and FY2026 earnings at $5.01 EPS.

NIKE (NYSE:NKE – Get Rating) last released its quarterly earnings data on Thursday, September 29th. The footwear maker reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. NIKE had a net margin of 11.96% and a return on equity of 37.08%. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.28 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue was up 3.7% on a year-over-year basis.

A number of other research analysts also recently commented on NKE. Citigroup lowered their price target on shares of NIKE from $113.00 to $93.00 and set a “neutral” rating for the company in a report on Friday, September 30th. Wedbush lowered their price target on shares of NIKE from $121.00 to $101.00 and set an “outperform” rating for the company in a report on Friday, September 30th. Cowen lowered their price target on shares of NIKE from $127.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, September 30th. Cowen lowered their price target on shares of NIKE from $127.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, September 30th. Finally, KeyCorp began coverage on shares of NIKE in a report on Wednesday, July 20th. They issued a “sector weight” rating for the company. Thirteen research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.96.

NIKE Stock Down 2.0 %

Shares of NYSE:NKE opened at $86.83 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.76 and a debt-to-equity ratio of 0.56. NIKE has a 12 month low of $82.22 and a 12 month high of $179.10. The company has a 50-day moving average price of $101.42 and a 200 day moving average price of $110.35. The company has a market cap of $136.20 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 2.47 and a beta of 1.11.

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New Hampshire lifted its holdings in shares of NIKE by 0.6% in the 1st quarter. Bank of New Hampshire now owns 13,282 shares of the footwear maker’s stock worth $1,787,000 after acquiring an additional 80 shares during the last quarter. Gilman Hill Asset Management LLC grew its position in shares of NIKE by 1.8% in the 1st quarter. Gilman Hill Asset Management LLC now owns 4,777 shares of the footwear maker’s stock valued at $643,000 after buying an additional 84 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in NIKE by 3.8% during the 1st quarter. Prestige Wealth Management Group LLC now owns 2,378 shares of the footwear maker’s stock worth $320,000 after purchasing an additional 86 shares during the period. O Dell Group LLC lifted its stake in shares of NIKE by 4.2% in the 1st quarter. O Dell Group LLC now owns 2,138 shares of the footwear maker’s stock worth $288,000 after acquiring an additional 87 shares during the period. Finally, Centaurus Financial Inc. lifted its stake in shares of NIKE by 4.1% in the 2nd quarter. Centaurus Financial Inc. now owns 2,224 shares of the footwear maker’s stock worth $227,000 after acquiring an additional 88 shares during the period. 64.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In related news, CFO Matthew Friend sold 4,139 shares of NIKE stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total transaction of $469,445.38. Following the transaction, the chief financial officer now directly owns 56,539 shares of the company’s stock, valued at $6,412,653.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, COO Andrew Campion sold 5,922 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total transaction of $671,673.24. Following the transaction, the chief operating officer now directly owns 75,295 shares of the company’s stock, valued at $8,539,958.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew Friend sold 4,139 shares of NIKE stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total transaction of $469,445.38. Following the completion of the transaction, the chief financial officer now directly owns 56,539 shares of the company’s stock, valued at approximately $6,412,653.38. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

NIKE announced that its Board of Directors has approved a stock buyback plan on Monday, June 27th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the footwear maker to reacquire up to 11% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, September 2nd. NIKE’s payout ratio is 34.56%.

NIKE Company Profile

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men’s, women’s, and kids athletic footwear, apparel, equipment, and accessories 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.

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