Analysts Forecast NIKE, Inc. Earnings in Q1 2023 (NYSE:NKE)

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Is Nike stock still cheap despite being oversold? In a study made available to customers and investors on August 30, Zacks Research released its earnings estimates for Nike for the first quarter of 2023. These forecasts can be viewed here. The survey focused on Nike, Inc. R. Lohia of Zacks Research expects the shoemaker to generate $0.90 in earnings per share in the third quarter of this year. These forecasts are based on the company’s historical performance. The general view of financial analysts puts Nike’s earnings forecast at $3.80 per share for the full year. Additionally, according to projections made by Zacks Research, Nike will earn $0.79 per share in Q2 2023, $1.02 per share in Q3 2023, $0.98 per share in Q4 2023, $3.70 per share in fiscal year 2023. , $1.26 per share in the first quarter of 2024, $1.09 per share in the second quarter of 2024, $1.27 per share in the third quarter of 2024 and $1.18 per share in the fourth quarter Recent reports on the company’s performance have been compiled and distributed by several different stock analysts. In a report on the company’s financial performance released Tuesday, June 28, analysts lowered their “overweight” rating and price target on Nike from $1590.00 to $149.00.

The research focused on the company’s recent performance. KGI Securities’ recommendation for Nike was changed from “outperform” to “neutral” in a research note dated May 23. Barclays analysts said they were lowering their price target for Nike from $140.00 to $125.00 and calling the company “overweight.” “This information was included in a research report made public by Barclays on June 29. In a research note released June 28, BMO Capital Markets lowered its “outperform” rating and target price on Nike shares, which had previously been set at $149.00. The note was produced in response to Nike’s quarterly earnings report. The new price we are targeting is $128.00. On Wednesday, August 3, Piper Sandler began offering Nike stock coverage in a research note. This cover was the first included in the note. The meeting will end on this particular topic. They gave the company a “neutral rating” and they decided that the price target should be $115.00. Twenty investment professionals favor buying the stock, while eleven think it should be held stable as an investment. Nike’s current average rating is “Moderate Buy” and the widely agreed price target is $137.46, according to research by Bloomberg.

Should you keep your Nike (NYSE:NKE) position through the second half of 2022? On Friday, the opening price of a Nike share was set at $106.49. During NIKE’s trading year, the company’s stock price ranged from a high of $179.10 to a low of $99.53 over the 52 weeks. The company’s stock price moving average for the last 50 days is $109.52, while its stock price moving average for the last 200 days is $119.38. There is a ratio of 0.58 between the amount of debt and that of equity. The current ratio is 2.63, while the quick ratio is 1.84 and the current ratio is 2.63. Based on the following criteria, the value of the company was calculated at $167.04 billion: the price/earnings ratio is 28.32, the price/earnings growth ratio is 2.28 and the beta value is of 1.02. Nike’s (NYSE:NKE) latest earnings report was due June 27, when the company released its results. The shoemaker reported earnings per share for the quarter of $0.90, $0.09 higher than the earnings-per-share projection of $0.81 that market pundits had made. Nike had a return on equity of 40.74%, significantly higher than its net margin of 12.94%. Overall revenue for the quarter was $12.20 billion, which was above the consensus estimate of $12.10 billion for the amount of money that would be generated. Compared to the same period a year earlier, the company generated earnings of $0.93 for each share. Compared to the same quarter of the previous year, the turnover for this quarter is down. eight percentage points.

Should you buy, sell or own shares of Starbucks, Nike or Nio? As a direct result of these changes, the total number of shares that hedge funds and many other types of institutional investors hold in the company has changed. CWM LLC increased the amount of Nike shares held by 12.5% ​​during the first quarter of the year. After purchasing an additional 1,986 shares throughout the transaction, CWM LLC now owns 17,836 shares of the shoe company, which have a combined value of $2,400,000. The transaction resulted in the acquisition of these shares. In the first three months of 2018, WealthPLAN Partners LLC increased the total number of Nike shares it held by 4.8%. Currently, WealthPLAN Partners LLC owns a total of 2,747 shares of the shoe company, which are worth a combined total of $343,000. This shows an increase of 126 shares in the last quarter of the company’s fiscal year (from 2,680 previously). Nike stock holdings, managed by Executive Wealth Management LLC, rose 4.2% in the first three months of the year. Following the acquisition of 476 additional shares in the last quarter, Executive Wealth Management LLC now owns 11,937 shares of the shoemaker. This brings the total number of shares held by the company to 11,937. A value of $1,606,000 is attached to these shares. In the fourth quarter of 2018, Lake Street Advisors Group LLC purchased an additional 1.2% of Nike shares, bringing the company’s total holdings of Nike shares to 14.4%.

After purchasing an additional 155 shares of the shoemaker’s stock last fiscal quarter, Lake Street Advisors Group LLC now owns 12,815 shares of the company’s stock, worth $2,136,000. Finally, Castle Rock Wealth Management LLC made a new investment in Nike of $313,000 during the first quarter of this year. Institutional investors and hedge funds own 64.19% of the company’s shares. The other shareholders hold the remaining 35.21%. Additionally, on August 3, Nike COO Andrew Campion sold 5,922 shares of the company. This Nike-related information is included in the news. It was discovered that each share was sold at an average price of $113.42, which led to a total sale volume of $671,673.24. The price at which each share was sold was determined to be $113.42. After the sale was completed, the COO was able to buy a working interest in the company that was equivalent to 75,295 shares and had a total value of $8,539,958.90. By following the link provided in the previous row, you will be able to review the filing made with the Securities and Exchange Commission that made the transaction public. According to reports from other sources, CFO Matthew Friend sold 9,032 shares of the company on Monday, June 13. This information was obtained from reports from other sources.

The price of each share was determined at $110.52, resulting in a total trading volume of $998,216.64 collected from buyers. Following the successful completion of the transaction, the company’s CFO now owns 51,581 shares with a total value of $5,700,732.12. You will have access to the SEC filing if you use this website, which is also where the transaction was publicly notified. Additionally, 5,922 shares of the company were sold on August 3 by Andrew Campion, the company’s chief operating officer. It was discovered that each share was sold at an average price of $113.42, which led to a total sale volume of $671,673.24. The price at which each share was sold was determined to be $113.42. Following the closing of the transaction, the CEO will hold a total of 75,295 shares of the company. Each of these shares has a current market value of $8,539,958.90. Disclosures related to the sale can be found in this section of the website. Business insiders were responsible for selling 68,593 shares of the company in the most recent fiscal year, resulting in a total value of $7,372,310. Currently, insider ownership of the Company’s stock is 0.40%. Nike announced on Monday, June 27 that the company’s board of directors has authorized an $8.00 billion share buyback program for the company’s existing stock. The initiative would be used to buy back existing Nike shares by the company. As a direct consequence of this authorization, the shoe manufacturer can now buy back up to 11% of its shares on the open market.

It is common practice for management to announce stock buyback plans to convey its judgment that the company’s stock is currently trading at a price lower than its true value. Additionally, the company recently announced that it will begin paying a quarterly dividend to shareholders beginning Monday, October 3. On September 6, registered shareholders will be eligible to receive a dividend payment of $0.305 per share. This payment will be made available to shareholders. As a direct result, the dividend yield is calculated at 1.15% and the total annual payout is calculated at $1.22. On the ex-dividend date, this Friday September 2, the dividend in question will be paid, but not before. The present value of the company’s dividend payout ratio is 32.45%. Details about Nike, including the company itself Nike, Inc. and its subsidiaries are responsible for the design, development, marketing and distribution of athletic footwear, apparel, equipment and accessories for men, women and children in all parts of the world. These products are sold in all countries of the world. Under the Jumpman brand, the company sells a variety of products, including footwear, apparel (sports and casual), and accessories. Casual clothing and accessories are also marketed and sold under brands such as Converse, Chuck Taylor, All-Star, One Star, Star Chevron and Jack Purcell.

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