Nike, Inc. (NYSE: NKE) recently received a boost in its target price from analysts at Credit Suisse Group. They raised it from an earlier $154.00 to the latest $160.00. The brokerage also recommended an “outperform” rating on the company. Owing to this boost in the target price, Nike, Inc. reached a record 12-monthly high while trading this Thursday, December 17th.
NKE stocks closed at $140.50 this Thursday reaching a high of $140.74. The company’ current market capitalization stands at $220.56 billion. It has a positive PE ratio of 83.86, along with a beta value of 0.84 at the moment. The 50SMA (50 Days Simple Moving Average) stands at $131.67 and its 200SMA stands at $114.65.
Nike, Inc. (NYSE: NKE) Stock Analysis
The quarterly earnings report for the previous quarter was released on the 22nd of September. The earnings stood at $0.95 EPS as opposed to the general consensus of $0.46. The company’s return on equity stands at 34.62% along with the net margin of 7.20%. The estimated income for the firm was marked at $9.15 billion but it made $10.59 billion for the quarter. During the corresponding quarter previous year, the company’s EPS was reported to be $0.27. From this, it can be estimated that the company’s revenue has decreased by 0.6% on a yearly basis. Analysts further estimate that the FY2020 EPS will stand at 2.85 for this company.
NYSE: NKE has recently been the subject of a lot of reports by research analysts. Some such as Needham & Company LLC, Piper Sandler, Goldman Sachs, Jefferies Financial Group, and so on have posted reports on this firm over the last few months.
The recent consensus rating of this popular footwear and accessories designing and manufacturing company currently stands at “Buy”. The consensus estimate on the target price is $141.60. Several hedge funds have also been involved in buying and selling of this company’s shares recently.