Nike Inc (NKE) Releases Earnings Results, Beats Expectations By $0.17 EPS

Nike Inc (NKE) announced its most recent quarterly financial results on Tuesday, Sep-27-2016. NKE said it had a profit of $0.73 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.17. Analysts had a consensus of $0.56. The company posted revenue of $9061.00 million in the period, compared to analysts expectations of $8864.88 million. NKE’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS.

Many Wall Street Analysts have commented on Nike Inc. Nike Inc was Downgraded by Piper Jaffray to ” Neutral” on Sep 8, 2016. Nike Inc was Downgraded by B. Riley & Co. to ” Neutral” on Aug 26, 2016.

Nike Inc opened for trading at $54.25 and hit $55.54 on the upside on Tuesday, eventually ending the session at $55.34, with a gain of 1.73% or 0.94 points. The heightened volatility saw the trading volume jump to 1,79,45,212 shares. Company has a market cap of $92,839 M.

In a different news, on Jul 27, 2016, John F Slusher (EVP: GBL SPORTS MKTG) sold 72,696 shares at $57.75 per share price. According to the SEC, on Jul 1, 2016, John C Lechleiter (director) purchased 1,000 shares at $55.09 per share price. On May 2, 2016, Eric D Sprunk (CHIEF OPERATING OFFICER) sold 135,764 shares at $58.82 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.

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