Nike (NKE) has a market cap of $84.5 billion. It fell 2.5% to close at $50.57 per share on December 6, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 0.24%, 1.6%, and -18.1%, respectively, on the same day.
NKE is trading 0.39% below its 20-day moving average, 1.4% below its 50-day moving average, and 9.3% below its 200-day moving average.
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On December 6, 2016, Cowen downgraded Nike’s rating to “neutral” from “outperform.” It also reduced the stock’s price target to $54.0 from $59.0 per share.
Performance of Nike in fiscal 1Q17
Nike (NKE) reported fiscal 1Q17 revenues of $9.1 billion, a rise of 8.3% from $8.4 billion reported in fiscal 1Q16. Revenues from its Footwear, Apparel, and Equipment segments rose 6.8%, 8.9%, and 3.7%, respectively. Revenues 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 revenues from emerging markets fell 2.2% YoY (year-over-year) in fiscal 1Q17.
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.
Cash and cash equivalents
Nike’s 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 2.8x and 0.61x, respectively, in fiscal 1Q16.
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