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Nike Rating Lowered on Concerns of Rising Competitive Pressure

28 September, 2017, 00:33 | Author: Paula Vaughn
  • Reuters

A month ago, they told us to expect earnings of US$0.54 per share while three months ago their EPS consensus estimate was US$0.57. The firm presently has a "neutral" rating on the footwear maker's stock. On Thursday, March 23 the stock rating was maintained by Wedbush with "Neutral".

Among 43 analysts covering Nike Inc.

Several research analysts have recently issued reports on NKE shares. Guggenheim reiterated a "buy" rating and issued a $70.00 price objective on shares of Nike in a research report on Monday, July 24th. Among holders that decreased their positions, 88 sold out of the stock NIKE, Inc. The average investment rating for NKE on a scale of 1 to 5 (1 being a strong sell and 5 being a strong buy) is a 3.86 or a Hold. The company presently has a consensus rating of "Hold" and a consensus target price of $59.12.

ILLEGAL ACTIVITY WARNING: This piece was first reported by Equities Focus and is the sole property of of Equities Focus. If you are accessing this story on another site, it was stolen and reposted in violation of global copyright & trademark legislation. The stock of Nike Inc (NYSE:NKE) has "Buy" rating given on Wednesday, April 19 by Goldman Sachs.

NIKE, Inc. (NYSE:NKE) received a Buy rating from 5 analysts.

The company now has an insider ownership of 1.9 Percent and Institutional ownership of 81.3 Percent. The company's 50-day moving average is $56.45 and its 200-day moving average is $53.41.

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First Niagara Financial Group Inc.is a bank holding firm for First Niagara Bank, N.A. The company has market cap of $3.61 billion. Nike has a 52 week low of $49.01 and a 52 week high of $60.53. After $0.64 actual earnings per share reported by EPAM Systems Inc for the previous quarter, Wall Street now forecasts 12.50% EPS growth. Stuyvesant Capital Management bought 38,575 shares as the company's stock declined 0.40% while stock markets rallied. The return on assets stands at 18.8%, Return on Equity now is 34.2% and the Return on Investment value is 25.3%. According to their predictions high & low revenue estimates are 9.21 Billion and 8.94 Billion respectively.

But the athletic apparel retailer's quarterly revenue was $9.07 billion, just shy of the $9.09 billion expected by analysts. Jennison Associates LLC grew its position in shares of Nike by 124.7% during the 1st quarter. Hartford Investment Management Co. now owns 360,722 shares of the footwear maker's stock valued at $21,283,000 after acquiring an additional 18,759 shares during the period. Wellington Shields Capital Management Ltd Co stated it has 0.37% of its portfolio in Nike Inc (NYSE:NKE). Baystate Wealth Management LLC now owns 4,548 shares of the footwear maker's stock valued at $253,000 after acquiring an additional 601 shares during the period.

"This quarter, we captured near-term opportunities through our new consumer direct offense", Nike chairman, president and chief executive Mark Parker said in a statement. SRS Capital Advisors Inc. raised its stake in shares of Nike by 31.1% during the 1st quarter. Institutional investors and hedge funds own 62.23% of the company's stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the business's stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $57.00, for a total transaction of $2,850,000.00. Weatherly Asset Management sold 3,080 shares as the company's stock rose 3.62% with the market. The disclosure for this sale can be found here.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a $0.18 dividend. On Thursday, August 17 the stock rating was maintained by Jefferies with "Buy". This represents a $0.72 annualized dividend and a dividend yield of 1.35%. Nike's payout ratio is presently 28.69%. The Company's operating divisions include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets.

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