YTD, How Many New Highs Are Made By NIKE Inc. (NKE)?

The stock of NIKE Inc. (NYSE:NKE) increased by increased by $1.3 on Friday to finish at $163.48, up 0.80 percent. The last five days have seen an average of 5,579,040 shares of common stock traded. 24 times new highs were reached in the current year, with a gain of $22.01. The average number of shares traded over the last 20 days was 7,490,975, while the average volume over the last 50 days totaled 6,720,382.

NKE stock appreciated 2.44% since last month. On 10/01/21, the company’s shares reached a one-month low of $144.37. The stock touched a high of $174.38 on 08/06/21, after rallying from a low of $118.80 in 52 weeks. The price of NKE stock has risen by 15.56% or $22.01 this year, reaching a new high 24 times. Still, the stock price is down -6.25% from the 52-week high.

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Insider Transactions

There have been 7 days since NIKE Inc. (NKE) last reported insider trading activity on Oct 18. On Oct 18, Director Comstock Elizabeth J sold 14,000 shares at $158.72 each. This transaction resulted in the insider making $2,222,010. On Oct 15, Krane Hilary K sold 10,750 shares at a price of US$157.80. After the transaction, the insider now owns 151,336 shares. EXECUTIVE CHAIRMAN PARKER MARK G had earlier sold 100,000 shares on Oct 13 for $154.99 a share. The transaction was completed for $15,498,558.

Valuation Metrics

NIKE Inc. (NKE) has a trailing price-to-earnings (P/E) ratio of 43.43. This level actually compares unfavorably with the industry at large, as the PE for the Footwear & Accessories industry stands at about 35.24. Further, its PE also compares unfavorably with the Consumer Cyclical sector’s trailing 12 months PE ratio, which comes in at 32.04 right now. The PE ratio of NIKE Inc. has varied between 84.03 and 20.38 in the last five years. Beta for the stock is 0.92. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.56, the price-to-book (PB) ratio of 18.02, and the price-to-cash flow ratio of 57.12.

NIKE Inc.’s dividend is $1.10 per share per year. With a dividend yield of 0.67%, NKE has a payout ratio of 27.80%. On Oct. 1, the company paid $0.2750 per share in dividends, remained unchanged from $0.2750 last year. A $0.03 dividend increase was reported on Friday November 20 2020, making it the 5 consecutive year the dividend has increased. Over the last three years, dividends have increased by 36.49%.

For the three months ended May 30, NIKE Inc.’s quick ratio was 2.40, while its current ratio was 3.20, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending May 30 is 0.66, and the total debt to equity ratio is 0.66. As far as profitability goes, gross margin for the trailing twelve months is 45.40% percent. NIKE Inc.’s EBITDA margin for the year ended May 30 was 17.70%, whereas its operating margin stood at 15.70% for the same period. Based on annual data, it had gross profit of $19.96 billion and revenue of $44.54 billion.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NKE’s return on assets (ROA) during the last 12 months has been 16.60%. There was a 26.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 49.00%. ROE has averaged 9.42 in the past year for the broader industry.

Earnings Surprise

According to NIKE Inc.’s quarterly financial report for the quarter that ended May 30, it had $9.41 billion in total debt versus $2.98 billion in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $12.25 billion, while revenues rose by 13.5% to $12.34 billion. It was predicted that NIKE Inc.’s quarterly earnings would be $0.93, but it ended up being $0.51, beating the consensus by 82.40%. EBITDA was $2.29 billion for the quarter. At the end of NIKE Inc.’s most recent quarter ended May 30, its liabilities totaled 23.57 billion, while its total debt was $12.85 billion. Equity owned by shareholders amounts to $1.58 billion.

Technical Picture

Here’s a quick look at NIKE Inc.’s (NKE) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 73.85%, suggesting the stock is Overbought, with a 13.37% historical volatility rate.

The stochastic %K and %D were 94.29% and 92.83% respectively, while the average true range (ATR) was 2.99. Based on the 14-day stochastic reading of 93.34%, the RSI (14) reading is 65.24%. On the 9-day MACD Oscillator, the stock is at 2.91, and the 14-day reading is at 5.72.

Analyst Ratings

In its analyst report released on October 12, 2021, Goldman began covering NIKE Inc. (NYSE: NKE). The stock was rated as a Buy by the brokerage firm. Analysts have assigned NIKE Inc. (NKE) an Overweight rating. NKE is a stock that is recommended for selling by 0 brokerage firms, while 5 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 3 rates it overweight and 20 others recommend it as a buy.

What is NKE’s price target for the next 12 months?

The current consensus forecast for the stock is between $154.00 and $214.00, with a median target price of $180.00. In analyzing these forecasts, the average price target given by analysts for NIKE Inc. (NKE) is $182.22.


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