NIKE Inc. [NYSE: NKE] traded at a low on 09/18/23, posting a -0.78 loss after which it closed the day’ session at $95.51. The company report on September 1, 2023 at 4:15 PM that NIKE, Inc. Announces First Quarter Fiscal 2024 Earnings and Conference Call.
NIKE, Inc. (NYSE: NKE) plans to release its first quarter fiscal 2024 financial results on Thursday, September 28, 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 For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, October 19, 2023.
The results of the trading session contributed to over 6302712 shares changing hands. Over the past one week, the price volatility of NIKE Inc. stands at 1.55% while the volatility over the past one month is 1.60%.
The market cap for NKE stock reached $147.54 billion, with 1.54 billion shares outstanding and 1.21 billion shares in the current float. Compared to the average trading volume of 7.55M shares, NKE reached a trading volume of 6302712 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 $125.13 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 2.30. 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.
Wells Fargo have made an estimate for NIKE Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on Sep-19-23.
The Average True Range (ATR) for NIKE Inc. is set at 1.80, with the Price to Sales ratio for NKE stock in the period of the last 12 months amounting to 2.88. The Price to Book ratio for the last quarter was 10.47, with the Price to Cash per share for the same quarter was set at 6.91. Price to Free Cash Flow for NKE in the course of the last twelve months was 30.28 with Quick ratio for the last quarter at 1.80.
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 -1.32. With this latest performance, NKE shares dropped by -9.08% in over the last four-week period, additionally sinking by -20.67% over the last 6 months – not to mention a drop of -9.47% 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 29.46, with the RSI for the last a single of trading hit 26.65, and the three-weeks RSI is set at 32.27 for NIKE Inc. [NKE]. The present Moving Average for the last 50 days of trading for this stock 104.56, while it was recorded at 96.28 for the last single week of trading, and 114.89 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 +10.38 and a Gross Margin at +42.36. NIKE Inc.’s Net Margin is presently recorded at +9.90.
Return on Total Capital for NKE is now 19.66, given the latest momentum, and Return on Invested Capital for the company is 19.24. Return on Equity for this stock inclined to 34.63, with Return on Assets sitting at 13.02. When it comes to the capital structure of this company, NIKE Inc. [NKE] has a Total Debt to Total Equity ratio set at 86.72. Additionally, NKE Total Debt to Total Capital is recorded at 46.44, with Total Debt to Total Assets ending up at 32.36. Long-Term Debt to Equity for the company is recorded at 83.64, with the Long-Term Debt to Total Capital now at 44.80.
Reflecting on the efficiency of the workforce at the company, NIKE Inc. [NKE] managed to generate an average of $60,573 per employee. Receivables Turnover for the company is 11.64 with a Total Asset Turnover recorded at a value of 1.32.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 15.10%.
Insider trade positions for NIKE Inc. [NKE]
The top three institutional holders of NKE stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in NKE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in NKE stock with ownership which is approximately 5.7381%.