NIKE, Inc. engages in the design, marketing and distribution of sports apparel, footwear, accessories and services for fitness activities. The multinational Company operates globally in North America; Europe, Africa (EMEA), China, Asia Pacific and Latin America (APLA). The Company also sells sports balls of various types, sports eyewear, watches and other equipment designed for sports activities. The company also designs products specifically for the Jordan and Converse brand, which focuses on the basketball apparel industry. The company’s chief executive officer is Mr. John Donahoe II.
The company is currently doing well and recently released its first quarter 2024 results, in which it reported a 2% increase in profit compared to the previous quarter. Total sales were $12.9 billion. The company’s sales increased by 2% and the increase in profit after tax was USD 5.4 billion with an increase of 6%. Shares of the athletic apparel maker were up 9.3% over the past month, outperforming the consumer goods sector’s gain of 8.75% and the S&P 500’s gain of 7.38%. Investors are also currently looking forward to the release of the company’s second quarter 2024 earnings results, which will be released on December 21, 2023. On that date, Nike is expected to report earnings of $0.85 per share, which would represent no increase from the same quarter a year earlier. However, the consensus estimate from trade journal yahoofinance.com forecasts revenue of $13.41 billion, an increase of 0.71% compared to the same quarter a year earlier.
The company also pays an attractive dividend of $0.37 per share each quarter. The annual dividend yield is 1.34%. The last day to purchase shares using the dividend payment, the so-called EX Dividend Date, is set for today, December 1, 2023. The dividend Pay Date is set for December 21, 2023. Multinational investment corporations and financial strategists estimate an average target price of $118.08 per share for the short- , to medium-term investment horizon.
