As of Thursday close, NIKE Inc.’s (NYSE:NKE) stock was down -$0.39, moving down -0.38 percent to $101.71. The average number of shares traded per day over the past five days has been 6,761,380 shares. 5 times new highs have been achieved over the past 5 days, with a $4.08 gain in that time frame. In the last twenty days, the average volume was 7,179,880, while in the previous 50 days, it was 7,361,470.
Since last month, NKE stock retreated -5.39%. Shares of the company fell to $96.54 on 08/23/23, the lowest level in the past month. A 52-week high of $131.31 was reached on 02/02/23 after having rallying from a 52-week low of $82.22. Since the beginning of this year, NKE’s stock price has dropped by -13.08% or -$15.30, and marked a new high 10 times. However, the stock has declined by -22.54% since its 52-week high.
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NKE stock investors should be aware that NIKE Inc. (NKE) stock had its last reported insider trading activity 24 days ago on Aug 08. Matheson Monique S., the EVP: CHRO of the company, disposed of 40,000 shares for $108.59 on Aug 08. It resulted in a $4,343,678 divestment by the insider. Friend Matthew sold 5,545 shares at an average price of $107.00 on Aug 03. The insider now owns 42,119 shares following the transaction. On Aug 03, VP: CORP CONTROLLER Nielsen Johanna sold 1,706 shares at $107.00 apiece. The transaction was valued at $182,542.
Valuation Metrics
Right now, NIKE Inc. (NKE) has a P/E ratio of about 31.52. The stock’s beta is 1.12. Besides these, the trailing price-to-sales (P/S) ratio of 3.00, the price-to-book (PB) ratio of 11.15, and the price-to-cash flow ratio of 31.55 may also be considered.
The latest dividend of $0.34 per share was paid out, remained unchanged from last year’s $0.34.
Financial Health
In the three months ended May 30, NIKE Inc.’s quick ratio stood at 1.80, while its current ratio was 2.70, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending May 30 was 0.64, and the total debt-to-equity ratio was 0.64. On the profitability front, the trailing twelve-month gross margin is 43.50% percent. In the year ended May 30, EBITDA margin amounted to 11.75%, whereas operating margins totaled 11.50%. Based on annual data, NKE earned $22.29 billion in gross profit and brought in $51.22 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 20.90%. Return on equity (ROE) for the past 12 months was 34.00%.
In NIKE Inc.’s quarter-end financial report for May 30, it reported total debt of $8.93 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NKE’s revenue rose 4.61% to $12.39 billion during the quarter, while net income inched up to $12.82 billion. While analysts expected NIKE Inc. to report $0.67 quarterly earnings, the actual figure was $0.66 per share, beating the consensus estimate by -1.50%. During the quarter, the company generated $1.46 billion in EBITDA. The liabilities of NIKE Inc. were 23.53 billion at the end of its most recent quarter ended May 30, and its total debt was $12.14 billion. The value of shareholders’ equity is $1.53 billion.
Technical Picture
This quick technical analysis looks at NIKE Inc.’s (NKE) price momentum. With a historical volatility rate of 23.48%, the RSI 9-day stood at 42.04% on 31 August.
With respect to its five-day moving average, the current NIKE Inc. price is up by +4.18% percent or $4.08. At present, NKE shares trade -6.38% below its 20-day simple moving average and -16.57% percent below its 100-day simple moving average. However, the stock is currently trading approximately -7.52% below its SMA50 and -4.13% below its SMA200.
Stochastic coefficient K was 40.12% and Stochastic coefficient D was 31.77%, while ATR was 2.01. Given the Stochastic reading of 43.66% for the 14-day period, the RSI (14) reading has been calculated as 40.17%. As of today, the MACD Oscillator reading stands at 1.33, while the 14-day reading stands at -0.66.
Analyst Ratings
Stifel reiterated its a Buy rating on NIKE Inc. (NYSE: NKE) in a note to investors. The analysts firm has however raised their price target to $135, representing a possible 28.87% increase in the stock price. NIKE Inc. (NKE) has been rated Overweight by analysts. According to 3 brokerage firms, NKE is a sell, and 8 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 6 analysts rate NIKE Inc. stock as buy, with 17 recommending it as overweight.
With a median target price of $130.00, the current consensus forecast for the stock is $92.00 – $151.87. Based on these forecasts, analysts predict NIKE Inc. (NKE) will achieve an average price target of $127.25.
