NIKE, Inc. (NYSE:NKE) Expected to Earn FY2024 Earnings of $3.58 Per Share

NIKE, Inc. (NYSE:NKE) – Stock analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of NIKE in a research report issued to clients and investors on Thursday, April 4th. Zacks Research analyst R. Lohia now forecasts that the footwear maker will post earnings of $3.58 per share for the year, up from their previous forecast of $3.55. The consensus estimate for NIKE’s current full-year earnings is $3.71 per share. Zacks Research also issued estimates for NIKE’s Q4 2024 earnings at $0.84 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $0.96 EPS, Q4 2025 earnings at $0.96 EPS, FY2025 earnings at $3.83 EPS, Q1 2026 earnings at $1.04 EPS, Q2 2026 earnings at $1.22 EPS, Q3 2026 earnings at $1.07 EPS and FY2026 earnings at $4.44 EPS.

A number of other analysts also recently weighed in on NKE. Robert W. Baird cut their target price on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Wells Fargo & Company cut their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. The Goldman Sachs Group cut their target price on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Telsey Advisory Group cut their target price on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Finally, BMO Capital Markets upped their target price on NIKE from $110.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $116.52.

NIKE Stock Performance

NKE opened at $90.01 on Monday. The business has a fifty day simple moving average of $99.85 and a 200 day simple moving average of $103.45. The company has a market capitalization of $136.99 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE has a 1 year low of $88.66 and a 1 year high of $128.68.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%.

Institutional Investors Weigh In On NIKE

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Freedom LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $29,000. Iron Horse Wealth Management LLC increased its stake in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares during the period. Impact Partnership Wealth LLC increased its stake in shares of NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares during the period. Planned Solutions Inc. acquired a new stake in shares of NIKE in the fourth quarter valued at about $29,000. Finally, True Wealth Design LLC increased its stake in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.64%. NIKE’s payout ratio is 43.53%.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.