NIKE, Inc. is expected to earn $0.93 per share in the first quarter of 2023 (NYSE: NKE)

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NIKE, Inc. (NYSE: NKE – Get a rating) – KeyCorp Research analysts released their first quarter 2023 earnings per share (EPS) estimates for NIKE shares in a report released Wednesday, July 20. KeyCorp analyst N. Zatzkin expects the shoemaker to post earnings of $0.93 per share for the quarter. KeyCorp has an “Industry Weight” rating on the stock. The consensus estimate for NIKE’s current annual earnings is $3.93 per share. KeyCorp also released NIKE earnings estimates for Q2 2023 at $0.78 EPS, Q3 2023 earnings at $1.01 EPS, Q4 2023 earnings at $1.00 EPS and fiscal year 2024 at $4.55 EPS.

Several other analysts have also weighed in on the company recently. KGI Securities downgraded NIKE from an “outperforming” rating to a “neutral” rating in a Monday, May 23 research rating. HSBC lowered its price target on NIKE shares from $140.00 to $132.00 and set a “hold” rating on the stock in a Tuesday, June 14 research report. Robert W. Baird cut his price target on NIKE stock from $150.00 to $140.00 and set an “outperform” rating on the stock in a Tuesday, June 28 report. Stifel Nicolaus lowered his price target on NIKE shares from $135.00 to $130.00 in a report on Wednesday. Finally, Morgan Stanley cut its price target on NIKE shares from $159.00 to $149.00 and set an “overweight” rating for the company in a Tuesday, June 28 research report. Eight investment analysts gave the stock a hold rating and twenty-one gave the company a buy rating. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.80.

NIKE Price Performance

Shares of NKE opened at $111.62 on Friday. The company has a debt ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84. The company has a market capitalization of $175.66 billion, a P/E ratio of 29.69, a P/E/G ratio of 2.27 and a beta of 1.00. NIKE has a 1-year low of $99.53 and a 1-year high of $179.10. The company has a fifty-day moving average of $110.16 and a two-hundred-day moving average of $126.70.

NIKE (NYSE: NKE – Get a rating) last reported quarterly earnings data on Monday, June 27. The shoemaker reported earnings per share (EPS) of $0.90 for the quarter, beating the consensus estimate of $0.81 by $0.09. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The company posted revenue of $12.20 billion for the quarter, versus a consensus estimate of $12.10 billion. In the same quarter a year earlier, the company posted earnings per share of $0.93. The company’s quarterly revenue decreased 0.8% from the same quarter last year.

NIKE Institutional Trade

Institutional investors have recently been buying and selling shares of the stock. CWM LLC increased its stake in NIKE by 12.5% ​​during the 1st quarter. CWM LLC now owns 17,836 shares of the shoemaker valued at $2,400,000 after buying an additional 1,986 shares in the last quarter. ProShare Advisors LLC increased its stake in NIKE shares by 26.2% during the fourth quarter. ProShare Advisors LLC now owns 494,736 shares of the shoemaker valued at $82,459,000 after buying an additional 102,792 shares in the last quarter. Aurora Private Wealth Inc. purchased a new equity stake in NIKE in the fourth quarter worth approximately $266,000. Desjardins Global Asset Management Inc. acquired a new equity stake in NIKE during Q4 for a value of approximately $1,841,000. Finally, Executive Wealth Management LLC increased its stake in NIKE by 4.2% in the 1st quarter. Executive Wealth Management LLC now owns 11,937 shares of the shoemaker valued at $1,606,000 after acquiring 476 additional shares during the period. 65.35% of the shares are currently held by institutional investors.

Insider Activity at NIKE

In other news, COO Andre Campion sold 14,203 shares of the company in a transaction that took place on Friday, June 3. The stock was sold at an average price of $120.61, for a total transaction of $1,713,023.83. As a result of the sale, the COO now directly owns 73,795 shares of the company, valued at approximately $8,900,414.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. In other NIKE news, Chief Financial Officer Matthew friend sold 9,032 shares of the company in a transaction that took place on Monday, June 13. The stock was sold at an average price of $110.52, for a total transaction of $998,216.64. Following the sale, the CFO now directly owns 51,581 shares of the company, valued at $5,700,732.12. The sale was disclosed in an SEC filing, available at the SEC website. Also, COO Andre Campion sold 14,203 NIKE shares in a trade that took place on Friday, June 3. The stock was sold at an average price of $120.61, for a total value of $1,713,023.83. Following the completion of the transaction, the COO now owns 73,795 shares of the company, valued at approximately $8,900,414.95. Disclosure of this sale can be found here. In the past three months, insiders have sold 72,735 shares of the company valued at $7,944,215. Insiders hold 3.70% of the shares of the company.

NIKE announced that its board of directors authorized a stock repurchase program on Monday, June 27 that allows the company to repurchase $18.00 billion in outstanding stock. This repurchase authorization allows the shoemaker to purchase up to 11% of its inventory through open market purchases. Stock buyback programs usually indicate that the management of the company believes that its shares are undervalued.

NIKE announces dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 1. Investors of record on Monday, June 6 received a dividend of $0.305. The ex-dividend date was Friday, June 3. This represents a dividend of $1.22 on an annualized basis and a dividend yield of 1.09%. NIKE’s dividend payout ratio is currently 32.45%.

NIKE Company Profile

(Get a rating)

NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories worldwide. The company offers NIKE-branded products in six categories, including running, NIKE basketball, Jordan brand, football, training and sportswear. It also markets products designed for children, as well as other sports and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball- ball, walking, wrestling and other outdoor activities; and apparel with licensed college and pro team and league logos, as well as athletic apparel.

See also

Earnings history and estimates for NIKE (NYSE:NKE)

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