Nike Inc(NYSE:NKE) announced the earnings results for Fiscal Year 2017 and Q3. The results came in during After-Market on Mar 21, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $8.432B. Analysts estimated a revenue of $8.470B. The revenues were -0.45% below the estimates. Earnings per share were $0.68. The reported EPS was above estimates by 28.3%. Analysts had estimated an EPS of $0.53.
In a different note, CLSA said it Initiates Coverage On Nike Inc, according to a research note issued on Jan 19, 2017. In the research note, the firm Announces the price-target to $55 per share. The shares have been rated ‘Underperform’ by the firm. Atlantic Equities said it Initiates Coverage On Nike Inc, according to a research note issued on Jan 19, 2017. The shares have been rated ‘Overweight’ by the firm.
Nike Inc (NKE) made into the market gainers list on Fridays trading session with the shares advancing 1.79% or 0.99 points. Due to strong positive momentum, the stock ended at $56.36, which is also near the day’s high of $56.64. The stock began the session at $55.29 and the volume stood at 1,44,38,573 shares. The 52-week high of the shares is $62.64 and the 52 week low is $49.01. The company has a current market capitalization of $93,246 M and it has 1,65,44,77,100 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Feb 2, 2017, Mark G Parker (CHAIRMAN, PRESIDENT & CEO) sold 100,000 shares at $52.94 per share price.Also, On Jan 31, 2017, David J Ayre (EVP Global HR) sold 200,000 shares at $53.08 per share price.On Jan 5, 2017, John F Slusher (EVP: GBL SPORTS MKTG) sold 136,000 shares at $52.13 per share price, according to the Form-4 filing with the securities and exchange commission.
NIKE Inc. is engaged in the design development marketing and selling of athletic footwear apparel equipment accessories and services. The Company sells its products to retail accounts through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations) and through a mix of independent distributors and licensees throughout the world. The Company focuses its NIKE Brand product offerings in eight key categories: Running Basketball Football (Soccer) Men’s Training Women’s Training Action Sports Sportswear (the Company’s sports-inspired lifestyle products) and Golf. The Company also markets products designed for kids as well as for other athletic and recreational uses such as cricket lacrosse tennis volleyball wrestling walking and outdoor activities. The Company’s portfolio brands include the NIKE Brand Jordan Brand Hurley and Converse.