Nike, Inc. [NYSE: NKE] traded at a low on Friday, posting a -0.26 loss after which it closed the day’ session at $88.84. The company report on March 21, 2024 at 4:15 PM that NIKE, Inc. Reports Fiscal 2024 Third Quarter Results.
NIKE, Inc. (NYSE:NKE) today reported fiscal 2024 financial results for its third quarter ended February 29, 2024.
Third quarter revenues were slightly up on both a reported and currency-neutral basis* at $12.4 billion.
The results of the trading session contributed to over 9699302 shares changing hands. Over the past one week, the price volatility of Nike, Inc. stands at 1.83% while the volatility over the past one month is 1.87%.
The market cap for NKE stock reached $134.61 billion, with 1.23 billion shares outstanding and 1.18 billion shares in the current float. Compared to the average trading volume of 9.47M shares, NKE reached a trading volume of 9699302 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 $111.19 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 2.15. 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 March 22, 2024. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $110 to $100. The new note on the price target was released on March 22, 2024, representing the official price target for Nike, Inc. stock. Previously, the target price had yet another drop from $140 to $120, while Telsey Advisory Group kept a Outperform rating on NKE stock.
The Average True Range (ATR) for Nike, Inc. is set at 2.12, with the Price to Sales ratio for NKE stock in the period of the last 12 months amounting to 2.61. The Price to Book ratio for the last quarter was 9.44, with the Price to Cash per share for the same quarter was set at 6.98. Price to Free Cash Flow for NKE in the course of the last twelve months was 21.73 with Quick ratio for the last quarter at 1.89.
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 -5.47. With this latest performance, NKE shares dropped by -9.00% in over the last four-week period, additionally sinking by -7.35% over the last 6 months – not to mention a drop of -28.18% 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 25.81, with the RSI for the last a single of trading hit 20.38, and the three-weeks RSI is set at 30.10 for Nike, Inc. [NKE]. The present Moving Average for the last 50 days of trading for this stock 100.25, while it was recorded at 90.35 for the last single week of trading, and 104.00 for the last 200 days.
Nike, Inc. [NKE]: Deeper insight into the fundamentals
Nike, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.89 and a Current Ratio set at 2.74.
Earnings analysis for Nike, Inc. [NKE]
With the latest financial reports released by the company, Nike, Inc. posted 0.66/share EPS, while the average EPS was predicted by analysts to be reported at 0.67/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1.50%. 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 13.43%.
Insider trade positions for Nike, Inc. [NKE]
The top three institutional holders of NKE stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NKE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NKE stock with ownership which is approximately 5.8386%.
