Nike Q1 2018 revenue totals $9.1 billion

Violet Tucker
September 28, 2017

But before the results were released, analysts at Canaccord Genuity expressed concern over what they saw as Nike's "stale innovation pipeline" and a "resurging Adidas".

Susquehanna rates Nike shares neutral with a $47 price target, down from $54. Nomura reiterated a "buy" rating and set a $60.00 price target on shares of Nike in a report on Friday, June 30th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the stock. The stock has "Buy" rating by Citigroup on Friday, May 27.

ILLEGAL ACTIVITY WARNING: This piece was first reported by Equities Focus and is the sole property of of Equities Focus. If you are accessing this article on another publication, it was copied illegally and reposted in violation of United States and global copyright & trademark laws. The stock of Nike Inc (NYSE:NKE) earned "Outperform" rating by Telsey Advisory Group on Monday, August 24. On Monday, April 3 PARKER MARK G sold $5.55 million worth of Nike Inc (NYSE:NKE) or 100,000 shares. Following the sale, the director now directly owns 25,660 shares in the company, valued at approximately $1,371,527. As of today, the company has a SMA200 (200-day simple moving average) of -2.13 Percent. The firm's stock has a market capitalization of $87.29 bln. Nike has a one year low of $49.01 and a one year high of $60.53. After $0.64 actual earnings per share reported by EPAM Systems Inc for the previous quarter, Wall Street now forecasts 12.50% EPS growth. (NKE) on Tuesday reported fiscal first-quarter profit of $950 million.

Sales from Greater China rose 9% and revenue from the Europe, the Middle East and Africa (EMEA) region grew 4% in the quarter. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. The business's quarterly revenue was up 5.0% on a year-over-year basis.

Several other institutional investors have also recently made changes to their positions in NKE. Webster Bank N.A. raised its stake in shares of Nike by 75.5% during the 1st quarter. Bartlett & Co. LLC now owns 286,515 shares of the footwear maker's stock valued at $15,967,000 after acquiring an additional 41,976 shares during the period. Manning & Napier Llc has 947,235 shares for 0.48% of their portfolio. The fund owned 149,381 shares of the footwear maker's stock after purchasing an additional 136,580 shares during the quarter. Glen Harbor Capital Management LLC lifted its holdings in shares of Nike by 17.9% during the 1st quarter.

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Nike reiterated on Tuesday that it would focus more on selling goods directly to consumers, especially as the U.S. retail market suffered. Finally, Court Place Advisors LLC bought a new stake in shares of Nike during the 1st quarter worth $640,000. The stock was purchased at an average cost of $56.30 per share, with a total value of $56,300.00. Stifel Fincl Corp owns 0% invested in EPAM Systems Inc (NYSE:EPAM) for 5,263 shares. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the business's stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $58.10, for a total transaction of $1,630,983.20.

Tuesday's results showed a 6 percent rise in inventories, which suggests the company is building up more stock to sell through online channels but may also indicate lower sales through traditional outlets.

The company's stock is now moving with a -ve distance from the 200 day SMA of approximately -2.13%, and has a solid year to date (YTD) performance of 5.65% which means that the stock is constantly adding to its value from the previous fiscal year end price. The firm earned "Hold" rating on Wednesday, March 23 by Canaccord Genuity.

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