NIKE (NYSE:NKE) Posts 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 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%.

NIKE Price Performance

Shares of NYSE NKE traded up $0.20 during mid-day trading on Thursday, hitting $77.10. 17,686,312 shares of the stock traded hands, compared to its average volume of 11,500,321. The company has a market cap of $115.60 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $78.28 and a two-hundred day simple moving average of $80.80.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. NIKE’s dividend payout ratio is 45.85%.

Analyst Ratings Changes

NKE has been the topic of several research analyst reports. Bank of America dropped their price objective on shares of NIKE from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Needham & Company LLC started coverage on NIKE in a report on Friday, November 22nd. They set a “buy” rating and a $84.00 price objective for the company. TD Cowen lowered their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Wells Fargo & Company reduced their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Telsey Advisory Group dropped their target price on NIKE from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Monday. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.15.

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.