The analysts wrote, “We resume coverage of NKE with a Buy rating and 20% upside to our $70, six-month price target. After an extended period of sub-par EPS, NKE appears to be on the verge of a multi-year growth spurt, with visibility into critical P&L drivers: high-single-digit top-line growth balanced by developed and emerging markets, margin expansion towards multi-year highs, and significant opportunity to flex the balance sheet on buybacks and dividends. We expect 18-20% EPS growth, and this coupled with improved understanding of NKE’s quality business model should support valuation in the low-20X P/E range, in line with high-quality branded Consumer peers.”
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of NIKE in a research note to investors on Tuesday. Separately, analysts at S&P Equity Research raised their price target on shares of NIKE from $58.00 to $61.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. Finally, analysts at Canaccord Genuity reiterated a “hold” rating on shares of NIKE in a research note to investors on Friday, March 22nd. They now have a $57.00 price target on the stock, up previously from $51.00.
Thirteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $68.23.
Shares of NIKE (NYSE: NKE) traded up 0.55% during mid-day trading on Thursday, hitting $58.7701. NIKE has a 52 week low of $42.55 and a 52 week high of $57.405. The stock’s 50-day moving average is currently $55.08. The company has a market cap of $52.535 billion and a P/E ratio of 22.79.
NIKE (NYSE: NKE) last issued its quarterly earnings data on Thursday, March 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. The company had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts expect that NIKE will post $2.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, April 1st. Investors of record on Monday, March 4th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Thursday, February 28th.
NIKE, Inc. (NYSE: NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.