Nike Inc (NKE) Releases Earnings Results, Beats Expectations By $0.01 EPS

Nike Inc (NKE) reported quarterly earnings results on Tuesday, Jun-28-2016. The company said it had a profit of $0.49 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.48. The company posted revenue of $8244.00 million in the period, compared to analysts expectations of $8276.81 million. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS.

Many Wall Street Analysts have commented on Nike Inc. Shares were Reiterated by Telsey Advisory Group on Jun 22, 2016 to “Outperform” and Lowered the Price Target to $ 69 from a previous price target of $72 .Shares were Reiterated by Jefferies on Jun 21, 2016 to “Buy” and Lowered the Price Target to $ 67 from a previous price target of $74 .Nike Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jun 1, 2016.

Nike Inc closed down -0.7 points or -1.33% at $51.89 with 1,53,74,062 shares getting traded on Monday. Post opening the session at $52, the shares hit an intraday low of $51.475 and an intraday high of $52.52 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on May 2, 2016, Eric D Sprunk (CHIEF OPERATING OFFICER) sold 135,764 shares at $58.82 per share price. According to the SEC, on May 2, 2016, John F Slusher (EVP: GBL SPORTS MKTG) sold 40,000 shares at $59.17 per share price. On May 2, 2016, Hilary K Krane (EVP, CAO and General Counsel) sold 55,000 shares at $59.13 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.

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