Nike (NYSE:NKE)‘s stock had its “buy” rating restated by analysts at Wells Fargo & Co. in a research report issued to clients and investors on Thursday, Analyst Ratings.Net reports. They currently have a $76.00 target price on the stock. Wells Fargo & Co.’s target price suggests a potential upside of 9.38% from the company’s current price.
A number of other firms have also recently commented on NKE. Analysts at UBS AG raised their price target on shares of Nike (NYSE:NKE) to $77.00 in a research note to investors on Thursday. Separately, analysts at Piper Jaffray Cos. reiterated a “neutral” rating on shares of Nike (NYSE:NKE) in a research note to investors on Thursday, September 12th. They now have a $71.00 price target on the stock, up previously from $64.00. Finally, analysts at Cowen and Company reiterated an “outperform” rating on shares of Nike (NYSE:NKE) in a research note to investors on Tuesday, July 9th. They now have a $68.00 price target on the stock.
Twelve equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Nike currently has a consensus rating of “Buy” and a consensus price target of $69.42.
Shares of Nike (NYSE:NKE) traded up 0.53% during mid-day trading on Thursday, hitting $69.845. 2,118,343 shares of the company’s stock traded hands. Nike has a one year low of $44.825 and a one year high of $69.85. The stock has a 50-day moving average of $65.44 and a 200-day moving average of $62.27. The company has a market cap of $62.187 billion and a P/E ratio of 25.61.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The company reported $0.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.01. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter last year, the company posted $1.17 earnings per share. Nike’s revenue was up 7.4% compared to the same quarter last year. On average, analysts predict that Nike will post $3.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, August 29th.
In other Nike news, CFO Donald Blair sold 33,000 shares of Nike stock on the open market in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $68.00, for a total value of $2,244,000.00. Following the completion of the sale, the chief financial officer now directly owns 203,635 shares of the company’s stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
NIKE, Inc (NYSE:NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.