NIKE, Inc. (NYSE:NKE) Receives Consensus “Buy” Recommendation From Analysts


Shares of NIKE, Inc. (NYSE: NKEGet a rating) received a consensus rating of “Buy” from the thirty-one rating agencies that currently cover the company, market beat reports. One investment analyst has assigned the stock a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating for the company. The 1-year average price target among brokers who have rated the stock in the past year is $171.65.

NKE has been the subject of several analyst reports. JPMorgan Chase & Co. set a price target of $164.00 on NIKE in a Tuesday, May 3 research note. Sanford C. Bernstein launched coverage on NIKE in a research note on Monday, March 14. They issued an “outperform” rating and a price target of $160.00 for the company. Jefferies Financial Group lowered its price target on NIKE from $200.00 to $185.00 and set a “buy” rating for the company in a Wednesday, March 16 research note. Deutsche Bank Aktiengesellschaft raised its price target on NIKE from $173.00 to $175.00 in a Tuesday, March 22 research note. Finally, Cowen reduced his price target on NIKE from $192.00 to $144.00 and set an “outperform” rating for the company in a Tuesday, March 8 report.

Institutional investors have recently been buying and selling shares of the company. Norges Bank bought a new equity stake in NIKE in the fourth quarter worth $1,894,686,000. State Street Corp increased its position in NIKE by 3.6% during the fourth quarter. State Street Corp now owns 56,598,375 shares of the shoemaker valued at $9,433,251,000 after buying an additional 1,969,270 shares last quarter. Jennison Associates LLC increased its position in NIKE by 14.6% during the fourth quarter. Jennison Associates LLC now owns 15,307,214 shares of the shoemaker valued at $2,551,253,000 after buying an additional 1,944,401 shares last quarter. Wellington Management Group LLP increased its position in NIKE by 9.0% during the first quarter. Wellington Management Group LLP now owns 18,040,233 shares of the shoemaker valued at $2,427,495,000 after buying an additional 1,486,421 shares last quarter. Finally, Lazard Asset Management LLC increased its position in NIKE by 221.5% during the first quarter. Lazard Asset Management LLC now owns 2,046,445 shares of the shoemaker valued at $275,368,000 after buying an additional 1,409,913 shares last quarter. 65.35% of the shares are held by hedge funds and other institutional investors.

Shares of NIKE Stock opened at $120.95 on Friday. The stock’s 50-day moving average is $122.83 and its 200-day moving average is $141.08. NIKE has a one-year low of $103.46 and a one-year high of $179.10. The company has a debt ratio of 0.64, a current ratio of 3.06 and a quick ratio of 2.18. The company has a market capitalization of $190.35 billion, a price-earnings ratio of 31.91, a PEG ratio of 1.88 and a beta of 0.96.

NIKE (NYSE: NKEGet a rating) last released its quarterly results on Monday, March 21. The shoemaker reported earnings per share of $0.87 for the quarter, beating analysts’ consensus estimate of $0.73 by $0.14. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The company posted revenue of $10.90 billion for the quarter, versus a consensus estimate of $10.61 billion. During the same period of the previous year, the company achieved EPS of $0.90. The company’s revenue for the quarter increased 4.8% on an annual basis. On average, sell-side analysts expect NIKE to post 3.7 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Monday, June 6 will receive a dividend of $0.305. This represents a dividend of $1.22 on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, June 3. NIKE’s payout rate is currently 32.19%.

About NIKE (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.

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