NIKE, Inc. (NYSE:NKE) – Jefferies Financial Group boosted their Q3 2021 earnings per share (EPS) estimates for NIKE in a research note issued on Sunday, December 20th. Jefferies Financial Group analyst R. Konik now anticipates that the footwear maker will earn $0.82 per share for the quarter, up from their prior forecast of $0.65. Jefferies Financial Group has a “Neutral” rating and a $140.00 price objective on the stock. Jefferies Financial Group also issued estimates for NIKE’s Q4 2021 earnings at $0.30 EPS.
A number of other brokerages also recently issued reports on NKE. Pivotal Research increased their price target on shares of NIKE from $118.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. Barclays increased their price target on shares of NIKE from $150.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday. Telsey Advisory Group increased their price target on shares of NIKE from $155.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday. Needham & Company LLC increased their price target on shares of NIKE from $149.00 to $165.00 and gave the stock a “buy” rating in a report on Monday. Finally, TheStreet raised shares of NIKE from a “c+” rating to a “b” rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirty have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $152.60.
Shares of NYSE NKE opened at $141.60 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The company has a market cap of $222.29 billion, a P/E ratio of 84.79, a P/E/G ratio of 2.76 and a beta of 0.84. NIKE has a 52 week low of $60.00 and a 52 week high of $147.95. The business has a 50-day simple moving average of $134.45 and a two-hundred day simple moving average of $116.22.
NIKE (NYSE:NKE) last released its earnings results on Thursday, December 17th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 34.62% and a net margin of 7.20%. The business had revenue of $11.24 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the business posted $0.70 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis.
Several institutional investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its stake in NIKE by 69.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 18,232 shares of the footwear maker’s stock worth $2,289,000 after acquiring an additional 7,470 shares during the period. Platform Technology Partners purchased a new stake in NIKE in the third quarter worth $1,332,000. Peapack Gladstone Financial Corp lifted its stake in NIKE by 10.3% in the third quarter. Peapack Gladstone Financial Corp now owns 74,561 shares of the footwear maker’s stock worth $9,361,000 after acquiring an additional 6,940 shares during the period. Virtu Financial LLC purchased a new stake in NIKE in the third quarter worth $1,001,000. Finally, Kentucky Retirement Systems purchased a new stake in NIKE in the second quarter worth $6,769,000. Hedge funds and other institutional investors own 55.61% of the company’s stock.
In other news, COO Andrew Campion sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $125.58, for a total value of $10,046,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Hilary K. Krane sold 5,670 shares of the firm’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $123.30, for a total transaction of $699,111.00. The disclosure for this sale can be found here. Insiders sold 682,670 shares of company stock worth $89,661,921 in the last 90 days. Company insiders own 3.80% of the company’s stock.
NIKE Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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