Revenue Update on Nike Inc(NYSE:NKE)

Nike Inc(NYSE:NKE) announced the earnings results for Fiscal Year 2017 and Q1. The results came in during After-hours on Sep 27, 2016. Company reported revenue of $9.06B. Analysts estimated a revenue of $8.88B. Earnings per share were $0.73. Analysts had estimated an EPS of $0.56.

In a different note, On Sep 26, 2016, B.riley said it Maintains its rating on Nike Inc. In the research note, the firm Lowers the price-target to $62.00 per share. The shares have been rated ‘Neutral’ by the firm. On Sep 8, 2016, PiperJaffray said it Downgrades its rating on Nike Inc. The shares have been rated ‘Neutral’ by the firm. On Aug 26, 2016, B. Riley said it Downgrades its rating on Nike Inc. The shares have been rated ‘Neutral’ by the firm.

Nike Inc (NKE) made into the market gainers list on Fridays trading session with the shares advancing 0.94% or 0.49 points. Due to strong positive momentum, the stock ended at $52.65, which is also near the day’s high of $53.06. The stock began the session at $52.57 and the volume stood at 1,29,40,220 shares. The 52-week high of the shares is $68.195 and the 52 week low is $51.475. The company has a current market capitalization of $88,327 M and it has 1,67,76,18,600 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 27, 2016, John F Slusher (EVP: GBL SPORTS MKTG) sold 72,696 shares at $57.75 per share price.Also, On Jul 1, 2016, John C Lechleiter (director) purchased 1,000 shares at $55.09 per share price.On May 2, 2016, Eric D Sprunk (CHIEF OPERATING OFFICER) sold 135,764 shares at $58.82 per share price, according to the Form-4 filing with the securities and exchange commission.

NIKE Inc. is engaged in the design development marketing and selling of athletic footwear apparel equipment accessories and services. The Company sells its products to retail accounts through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations) and through a mix of independent distributors and licensees throughout the world. The Company focuses its NIKE Brand product offerings in eight key categories: Running Basketball Football (Soccer) Men’s Training Women’s Training Action Sports Sportswear (the Company’s sports-inspired lifestyle products) and Golf. The Company also markets products designed for kids as well as for other athletic and recreational uses such as cricket lacrosse tennis volleyball wrestling walking and outdoor activities. The Company’s portfolio brands include the NIKE Brand Jordan Brand Hurley and Converse.

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