Nike (NKE) Does (Almost) Great in Q3; Analysts Comment, Raise Targets
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Price: $62.79 -0.85%
Rating Summary:
14 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
14 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade NKE Now!
Nike (NYSE: NKE) is slumping following buy-the-rumor-sell-the-news action on its third-quarter numbers. That, or the slight compression in gross margins is driving investors to the sidelines.
After the market closed Thursday, Nike reported earnings of $1.20 on revs of $5.85 billion, besting views calling for EPS of $1.17 and revs of $5.82 billion. Further, future orders rose 18 percent, excluding currency effects, thumping views seeking just a 13 percent gain.
Gross margins, as mentioned above, consolidated two percentage points to 43.8 percent.
For more color on the quarter, click here.
How'd the analysts respond today? Here's a brief list:
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After the market closed Thursday, Nike reported earnings of $1.20 on revs of $5.85 billion, besting views calling for EPS of $1.17 and revs of $5.82 billion. Further, future orders rose 18 percent, excluding currency effects, thumping views seeking just a 13 percent gain.
Gross margins, as mentioned above, consolidated two percentage points to 43.8 percent.
For more color on the quarter, click here.
How'd the analysts respond today? Here's a brief list:
- Citi took Nike off of its "Top Picks Live" list.
- Canaccord kept its Hold rating and issued some comments. The firm moved its price target from $96 to $104;
- Auriga also maintained a Buy and gave an assessment; and
- Jefferies issued some positive comments, keeping its Buy rating all the while.
- ISI from $110 to a new target of $130, maintaining a Buy rating;
- Baird boosted its target 15.7 percent from $108 to $125. Baird has an Outperfom on Nike; and
- Credit Suisse from $91 to $117, keeping its Neutral rating.
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Credit Suisse, Citi, Jefferies & Co, Robert W Baird, Auriga, Earnings
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