NIKE (NYSE:NKE) Price Target Lowered to $57.00 at Williams Trading

NIKE (NYSE:NKE) had its price objective trimmed by Williams Trading from $80.00 to $57.00 in a research report report published on Wednesday morning,MarketScreener reports. The firm currently has a buy rating on the footwear maker’s stock.

Other analysts have also issued reports about the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a research report on Thursday, March 12th. Daiwa Securities Group lowered their price objective on NIKE from $75.00 to $61.00 in a research note on Tuesday, December 23rd. Telsey Advisory Group dropped their price objective on NIKE from $65.00 to $55.00 and set a “market perform” rating on the stock in a report on Wednesday. Sanford C. Bernstein reaffirmed a “buy” rating on shares of NIKE in a research report on Thursday, March 5th. Finally, Barclays reduced their target price on NIKE from $73.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.43.

NIKE Stock Performance

NIKE stock opened at $44.72 on Wednesday. NIKE has a 12-month low of $44.56 and a 12-month high of $80.17. The company has a market capitalization of $66.21 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 2.78 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. The firm’s fifty day moving average price is $59.27 and its 200 day moving average price is $63.53.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.56%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. On average, research analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, March 2nd. NIKE’s dividend payout ratio (DPR) is 96.47%.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Financial Management LLC bought a new position in NIKE during the 4th quarter worth approximately $26,000. Sankala Group LLC bought a new stake in shares of NIKE in the 4th quarter valued at approximately $26,000. J.Safra Asset Management Corp bought a new stake in shares of NIKE in the 4th quarter valued at approximately $29,000. Kemnay Advisory Services Inc. acquired a new stake in shares of NIKE during the 4th quarter valued at approximately $30,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of NIKE during the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Q3 beat on the headlines — NIKE reported $11.28B in revenue and $0.35 EPS, modestly above consensus, showing the turnaround program is producing some topline stability and earnings beats. Business Wire: NIKE Q3 release
• Positive Sentiment: Product and regional pockets of strength — North America and running categories showed improvement, supporting management’s claim that parts of the turnaround are working. Reuters: Q3 sales beat
• Neutral Sentiment: Mixed analyst reaction — Several firms cut price targets and ratings while others reaffirmed buys; the street is divided on timing and magnitude of the recovery. Expect more target revisions as guidance is digested. Benzinga: analyst cuts
• Negative Sentiment: Weak guidance is the main driver — NIKE guided Q4 revenue lower (management now expects a decline rather than growth), signaling the turnaround will take longer and removing near?term certainty. CNBC: guidance and turnaround outlook
• Negative Sentiment: China slump — management projects a sharp drop in Greater China sales (around the guidance window), worsening a key market and pressuring revenue and margin recovery. Invezz: China sales impact
• Negative Sentiment: Margin and cost headwinds — tariffs, promotions and inventory cleanup weighed on gross margin and guidance for margin recovery is delayed, increasing near?term earnings risk. Zacks: margin pressures
• Negative Sentiment: Market reaction and analyst downgrades — heavy trading, multiple price?target cuts and downgrades accelerated the selloff and pushed the stock to multi?year/52?week lows. Investopedia: stock reaction

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).