NIKE Inc. [NYSE: NKE] jumped around 0.26 points on Tuesday, while shares priced at $118.79 at the close of the session, up 0.22%. The company report on February 21, 2023 that NIKE, Inc. Announces Third Quarter Fiscal 2023 Earnings and Conference Call.
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NIKE, Inc. (NYSE: NKE) plans to release its third quarter fiscal 2023 financial results on Tuesday, March 21, 2023, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. Following the news release, NIKE, Inc. management will host a conference call beginning at 2:00 p.m. PT to review results.
The conference call will be broadcast live over the Internet and can be accessed at https://investors.nike.com. For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, April 11, 2023.
NIKE Inc. stock is now 1.52% up from its year-to-date (YTD) trading value. NKE Stock saw the intraday high of $120.40 and lowest of $117.845 per share. The company’s 52-week high price is 139.86, which means current price is +1.24% above from all time high which was touched on 02/02/23.
Compared to the average trading volume of 7.32M shares, NKE reached a trading volume of 8413678 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about NIKE Inc. [NKE]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NKE shares is $129.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NKE stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Telsey Advisory Group have made an estimate for NIKE Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 14, 2022. While these analysts kept the previous recommendation, Raymond James raised their target price to Outperform. The new note on the price target was released on October 13, 2022, representing the official price target for NIKE Inc. stock. On September 30, 2022, analysts decreased their price target for NKE shares from 156 to 141.
The Average True Range (ATR) for NIKE Inc. is set at 2.81, with the Price to Sales ratio for NKE stock in the period of the last 12 months amounting to 3.81. The Price to Book ratio for the last quarter was 12.12, with the Price to Cash per share for the same quarter was set at 6.74.
How has NKE stock performed recently?
NIKE Inc. [NKE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.91. With this latest performance, NKE shares dropped by -6.85% in over the last four-week period, additionally plugging by 9.71% over the last 6 months – not to mention a drop of -14.42% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NKE stock in for the last two-week period is set at 39.11, with the RSI for the last a single of trading hit 32.87, and the three-weeks RSI is set at 44.61 for NIKE Inc. [NKE]. The present Moving Average for the last 50 days of trading for this stock 122.04, while it was recorded at 119.04 for the last single week of trading, and 109.54 for the last 200 days.
NIKE Inc. [NKE]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and NIKE Inc. [NKE] shares currently have an operating margin of +14.49 and a Gross Margin at +46.13. NIKE Inc.’s Net Margin is presently recorded at +12.92.
Return on Equity for this stock inclined to 43.11, with Return on Assets sitting at 15.49.
NIKE Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.70.
Earnings analysis for NIKE Inc. [NKE]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NKE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NIKE Inc. go to 6.77%.
Insider trade positions for NIKE Inc. [NKE]
There are presently around $119,660 million, or 82.90% of NKE stock, in the hands of institutional investors. The top three institutional holders of NKE stocks are: VANGUARD GROUP INC with ownership of 109,698,806, which is approximately 0.998% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 85,499,808 shares of the stock with an approximate value of $10.16 billion in NKE stocks shares; and STATE STREET CORP, currently with $6.54 billion in NKE stock with ownership of nearly -0.334% of the company’s market capitalization.
1,178 institutional holders increased their position in NIKE Inc. [NYSE:NKE] by around 54,757,746 shares. Additionally, 1,079 investors decreased positions by around 61,310,633 shares, while 241 investors held positions by with 891,251,680 shares. The mentioned changes placed institutional holdings at 1,007,320,059 shares, according to the latest SEC report filing. NKE stock had 344 new institutional investments in for a total of 8,666,778 shares, while 136 institutional investors sold positions of 15,087,266 shares during the same period.