Nike, Inc. [NYSE: NKE] loss -1.20% or -1.22 points to close at $100.56 with a heavy trading volume of 9524193 shares. The company report on December 21, 2023 at 4:15 PM that NIKE, Inc. Reports Fiscal 2024 Second Quarter Results.
NIKE, Inc. (NYSE:NKE) today reported fiscal 2024 financial results for its second quarter ended November 30, 2023.
Second quarter revenues were $13.4 billion, up 1 percent on a reported basis compared to the prior year and down 1 percent on a currency-neutral basis*.
The daily chart for NKE points out that the company has recorded -7.79% loss over the past six months.
If we look at the average trading volume of 8.92M shares, NKE reached to a volume of 9524193 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $122.54 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 2.05. 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.
HSBC Securities have made an estimate for Nike, Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on Jan-23-24.
The Average True Range (ATR) for Nike, Inc. is set at 2.25, with the Price to Sales ratio for NKE stock in the period of the last 12 months amounting to 2.96. The Price to Book ratio for the last quarter was 10.78, with the Price to Cash per share for the same quarter was set at 6.55. Price to Free Cash Flow for NKE in the course of the last twelve months was 24.16 with Quick ratio for the last quarter at 1.85.
Trading performance analysis for NKE stock
Nike, Inc. [NKE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.28. With this latest performance, NKE shares dropped by -18.00% in over the last four-week period, additionally sinking by -7.79% over the last 6 months – not to mention a drop of -19.25% 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 34.86, with the RSI for the last a single of trading hit 31.81, and the three-weeks RSI is set at 38.36 for Nike, Inc. [NKE]. The present Moving Average for the last 50 days of trading for this stock 109.65, while it was recorded at 101.16 for the last single week of trading, and 108.49 for the last 200 days.
Nike, Inc. [NKE]: A deeper dive into fundamental analysis
Nike, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.85 and a Current Ratio set at 2.74.
Nike, Inc. [NKE]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Nike, Inc. posted 0.79/share EPS, while the average EPS was predicted by analysts to be reported at 0.55/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 43.60%. 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 14.17%.
An analysis of Institutional ownership at Nike, Inc. [NKE]
The top three institutional holders of NKE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NKE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NKE stock with ownership which is approximately 5.8325%.
