In the last trading session, 7.04 million shares of the Nike, Inc. (NYSE:NKE) were traded, and its beta was 1.10. Most recently the company’s share price was $100.18, and it changed around -$0.9 or -0.89% from the last close, which brings the market valuation of the company to $151.79B. NKE currently trades at a discount to its 52-week high of $128.68, offering almost -28.45% off that amount. The share price’s 52-week low was $88.66, which indicates that the current value has risen by an impressive 11.5% since then. We note from Nike, Inc.’s average daily trading volume that its 10-day average is 8.49 million shares, with the 3-month average coming to 9.43 million.
Nike, Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 2.11. If we narrow it down even further, the data shows that 1 out of 37 analysts rate the stock as a Sell; another 7 rate it as Overweight. Among the rest, 17 recommended NKE as a Hold, whereas 12 deemed it a Buy, and 0 rated it as Underweight. Nike, Inc. is expected to report earnings per share of $0.74 for the current quarter.
Nike, Inc. (NYSE:NKE) trade information
Instantly NKE has showed a red trend with a performance of -0.89% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -7.73% year-to-date, but still up 1.90% over the last five days. On the other hand, Nike, Inc. (NYSE:NKE) is -4.13% down in the 30-day period. We can see from the shorts that 15.18 million shares have been sold at a short interest cover period of 1.88 day(s).
The consensus price target as assigned by Wall Street analysts is $137.97, which translates to bulls needing to increase their stock price by 27.39% from its current value. Analyst projections state that NKE is forecast to be at a low of $51 and a high of $185.
Nike, Inc. (NKE) estimates and forecasts
Nike, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 3.50 percent over the past six months and at a 10.53% annual growth rate that is well above the industry average of 1.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -6.30% in revenue this quarter, and will report an increase of 34.80% in the next quarter. The year-over-year growth rate is expected to be 1.20%, up from the previous year.
Consensus estimates provided by 23 financial analysts predict the company will bring in an average of $12.28 billion in revenue for the current quarter. 23 analysts expect Nike, Inc. to make $13.13 billion in revenue for the quarter ending May 2024. Forecasts for the next quarter put sales growth at 2.40%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 22.52%. Nike, Inc. earnings are expected to increase by 11.57% in 2024, but the outlook is positive 13.43% per year for the next five years.
NKE Dividends
Nike, Inc.’s next quarterly earnings report is expected to be released on March 21. The annual dividend yield of the stock is 1.42 percent and its annual dividend per share was 1.42. It is important to note, however, that the 1.42% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Nike, Inc. (NYSE:NKE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.41% of Nike, Inc. shares, and 83.21% of them are in the hands of institutional investors. The stock currently has a share float of 84.40%. Nike, Inc. stock is held by 3,232 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 8.81% of the shares, which is about 107.81 million shares worth $11.9 billion.
Blackrock Inc., with 7.58% or 92.83 million shares worth $10.25 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 38.4 million shares worth $4.24 billion, making up 3.14% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 29.34 million shares worth around $3.24 billion, which represents about 2.40% of the total shares outstanding.
