Research analysts set NIKE, Inc. earnings expectations for Q1 2023 (NYSE:NKE)

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NIKE, Inc. (NYSE: NKE – Get a rating) – Equity analysts Zacks Research released their first-quarter 2023 earnings estimates for NIKE in a research report delivered to customers and investors on Tuesday, August 30. Zacks Research analyst R. Lohia expects the shoemaker to post earnings of $0.90 per share for the quarter. The consensus estimate for NIKE’s current annual earnings is $3.80 per share. Zacks Research also released estimates for NIKE Q2 2023 earnings at $0.79 EPS, Q3 2023 earnings at $1.02 EPS, Q4 2023 earnings at $0.98 EPS, 2023 fiscal year at $3.70 EPS, 2024 Q1 earnings at $1.26 EPS, 2024 Q2 earnings at $1.09 EPS, 2024 Q3 earnings at $1.27 EPS, 2024 Q4 earnings at $1.18 EPS, FY2024 earnings at $4.79 EPS, Q1 2025 earnings at $1.37 EPS, and FY2025 earnings at $5.40 EPS.

A number of other stock analysts have also recently released reports on the company. Morgan Stanley cut its price target on NIKE from $159.00 to $149.00 and set an “overweight” rating for the company in a Tuesday, June 28 research note. KGI Securities downgraded NIKE from an “outperforming” rating to a “neutral” rating in a Monday, May 23 research rating. Barclays cut its price target on NIKE from $140.00 to $125.00 and set an “overweight” rating for the company in a Wednesday June 29 research note. BMO Capital Markets cut its price target on NIKE shares from $142.00 to $128.00 and set an “outperform” rating for the company in a Tuesday, June 28 research report. Finally, Piper Sandler assumed NIKE stock coverage in a Wednesday, August 3, research note. They issued a “neutral” rating and a price target of $115.00 for the company. Eleven investment analysts gave the stock a hold rating and twenty gave the company a buy rating. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $137.46.

NIKE trades up 0.0%

NIKE shares opened at $106.49 on Friday. NIKE has a 52-week low of $99.53 and a 52-week high of $179.10. The stock has a 50-day moving average price of $109.52 and a two-hundred-day moving average price of $119.38. The company has a debt ratio of 0.58, a quick ratio of 1.84 and a current ratio of 2.63. The stock has a market capitalization of $167.04 billion, a PE ratio of 28.32, a price-to-growth earnings ratio of 2.28 and a beta of 1.02.

NIKE (NYSE: NKE – Get a rating) last released its results on Monday, June 27. The shoemaker reported earnings per share of $0.90 for the quarter, beating consensus analyst estimates 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 in the quarter, versus a consensus estimate of $12.10 billion. In the same quarter a year earlier, the company posted EPS of $0.93. The company’s revenue for the quarter decreased 0.8% compared to the same quarter last year.

NIKE Institutional Trade

Several hedge funds and other institutional investors have recently increased or reduced their stake in the company. CWM LLC increased its position in NIKE by 12.5% ​​during the first quarter. CWM LLC now owns 17,836 shares of the shoemaker worth $2,400,000 after acquiring 1,986 additional shares during the period. WealthPLAN Partners LLC increased its stake in NIKE by 4.8% in Q1. WealthPLAN Partners LLC now owns 2,747 shares of the shoemaker valued at $343,000 after buying 126 additional shares last quarter. 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 worth $1,606,000 after buying 476 additional shares in the last quarter. Lake Street Advisors Group LLC increased its holdings of NIKE shares by 1.2% during the fourth quarter. Lake Street Advisors Group LLC now owns 12,815 shares of the shoemaker worth $2,136,000 after buying 155 additional shares last quarter. Finally, Castle Rock Wealth Management LLC purchased a new equity stake in NIKE during the first quarter at a value of $313,000. Institutional investors and hedge funds hold 64.19% of the company’s shares.

Insider Trading at NIKE

In other NIKE news, COO Andre Campion sold 5,922 NIKE shares in a trade on Wednesday, August 3. The shares were sold at an average price of $113.42, for a total value of $671,673.24. Following completion of the transaction, the COO now directly owns 75,295 shares of the company, valued at approximately $8,539,958.90. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. In other news, CFO Matthew friend sold 9,032 shares of the company in a transaction dated Monday, June 13. The shares were sold at an average price of $110.52, for a total transaction of $998,216.64. Following the transaction, the CFO now owns 51,581 shares of the company, valued at $5,700,732.12. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, COO Andre Campion sold 5,922 shares of the company in a trade dated Wednesday, August 3. The shares were sold at an average price of $113.42, for a total value of $671,673.24. Following the sale, the COO now owns 75,295 shares of the company, valued at approximately $8,539,958.90. Disclosure of this sale can be found here. During the last quarter, insiders sold 68,593 shares of the company valued at $7,372,310. 0.40% of the shares are currently held by company insiders.

NIKE said its board 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 repurchase up to 11% of its inventory through open market purchases. Stock buyback programs are usually a sign that a company’s management believes its stock is undervalued.

NIKE announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3. Investors of record on Tuesday, September 6 will receive a dividend of $0.305 per share. This represents an annualized dividend of $1.22 and a dividend yield of 1.15%. The ex-dividend date is Friday, September 2. 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 for men, women and children worldwide. The Company provides athletic and recreational footwear, apparel and accessories under the Jumpman brand; and casual sneakers, apparel and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron and Jack Purcell brands.

See also

Earnings history and estimates for NIKE (NYSE:NKE)

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