Nike (NKE) has a market cap of $87.4 billion. It rose 0.06% to close at $51.82 per share on October 11, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were -0.61%, -7.5%, and -16.4%, respectively, on the same day.
NKE is trading 3.8% below its 20-day moving average, 7.0% below its 50-day moving average, and 10.0% below its 200-day moving average.
Related ETF and peers
The iShares Russell Top 200 Growth ETF (IWY) invests 0.98% of its holdings in Nike. The ETF tracks an index of US large-cap growth stocks selected from 200 of the largest US companies by market cap. The YTD price movement of IWY was 2.9% on October 11.
The market caps of Nike’s competitors follow:
On October 11, 2016, Susquehanna initiated the coverage of Nike with a “positive” rating and set the stock’s price target at $63.00 per share.
TheStreet reported, “Nike’s stock is down about 17% so far this year. This decline creates an opportunity to buy the “world class” stock, Susquehanna said.”
TheStreet added, “Nike has a strong pipeline with improving average selling prices, the firm added.”
The report continued, “But Nike ‘rarely remains complacent for very long,’ and the Beaverton, OR-based company historically responds well to challenges, the firm said.”
Performance of Nike in fiscal 1Q17
Nike (NKE) reported fiscal 1Q17 revenue of $9.1 billion, a rise of 8.3% from $8.4 billion in fiscal 1Q16. Revenues from its Footwear, Apparel, and Equipment segments rose 6.8%, 8.9%, and 3.7%, respectively, and revenue from its Global Brand segment fell 42.3% between fiscal 1Q16 and fiscal 1Q17.
Nike’s revenues from North America, Western Europe, Central and Eastern Europe, Greater China, and Japan rose 6.1%, 7.4%, 9.7%, 15.1%, and 36.9%, respectively, in fiscal 1Q17. Its revenue from emerging markets fell 2.2% YoY (year-over-year) in fiscal 1Q17. The company’s gross profit margin fell 4.2% YoY.
Nike’s net income and EPS (earnings per share) rose to $1.3 billion and $0.73, respectively, in fiscal 1Q17, compared to $1.2 billion and $0.67, respectively, in fiscal 1Q16.
Its cash and cash equivalents fell 18.1%, and its inventories rose 10.9% YoY in fiscal 1Q17. Its current ratio fell to 2.7x, and its debt-to-equity ratio rose to 0.74x in fiscal 1Q17, compared to its current and debt-to-equity ratios of 2.8x and 0.61x, respectively, in fiscal 1Q16.
In fiscal 1Q17, Nike (NKE) repurchased 19 million shares for ~$1.1 billion. On August 31, 2016, it scheduled the delivery of $12.3 billion in orders between September 2016 and January 2017. This figure translates to a 5% YoY rise in orders and a 7% rise on a currency-neutral basis.
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