Nike’s Fiscal 4Q17 Results Overview: Earnings and Revenue Beats Matter
Oregon-based Nike (NKE) reported results for fiscal 4Q17 and fiscal 2017 (ended May 31, 2017) after the market closed on Thursday, June 29, 2017.
As in the first three quarters of fiscal 2017, the company cruised ahead of Wall Street’s earnings estimates, with EPS (earnings per share) rising 22.4% YoY (year-over-year) to $0.60, compared with the expected 2% jump to only $0.50. Its total sales rose 5.3% YoY to $8.7 billion, beating the consensus by $49 million.
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Nike also issued a solid outlook for its fiscal 2018 sales and earnings—and confirmed its partnership with Amazon.
Nike’s shares surged close to 11% to $59 on June 30, the next trading day.
Valuations updates and stock recommendations
Nike is currently trading at a one-year forward PE (price-to-earnings) ratio of 24.3x, compared with Under Armour’s (UAA) 51x, Lululemon Athletica’s (LULU) 25.3x, and Columbia Sportswear’s (COLM) 20.6x.
The average 12-month price target among the 35 analysts covering Nike is $61.04, indicating an upside of ~3% over the next year.
Founded in 1968, Nike is the world’s largest athletic footwear and apparel company. It has a market capitalization of $97.6 billion and forms part of S&P 500 Index (SPX) and the 30-stock Dow Jones Industrial Average Index.
Nike is included in the world’s most valuable brands list by Forbes with a brand value of $27.5 billion. Nick makes up 3.3% of the US Consumer Goods ETF (IYK) and 3% of the SPDR Consumer Discretionary Select Sector ETF (XLY).
Keep reading this six-part series (below) for an in-depth view of Nike’s fiscal 4Q17 performance, its management’s guidance for the coming fiscal year, its year-to-date stock market performance, its valuations, and the latest analyst actions.