Nike Inc. (NYSE:NKE), announced last week that its second-quarter profit beats analysts’ anticipates as sales gained in North America and the firm controlled its marketing costs. The American athletic apparel retailer stated that excluding 137 million dollars in losses related with the Umbro and Cole Haan businesses Nike is selling or has sold, profit was 1.14 dollars per share.
Analysts anticipated 1 dollar per share, the average of 18 anticipates compiled by Bloomberg.
In the wake of the news, Sterne Agee reissued their neutral rating on shares of Nike (NYSE: NKE) in a report released on Wednesday. “We are adjusting our FY13 and ’14 EPS estimates from 5.26 dollars and 5.99 dollars to 2.63 dollars and 2.99 dollars to reflect the 2 for 1 stock split of company's shares. Our revenue and margin estimates have not changed.,” the firm’s analyst commented.
In the same vein, analysts from GalaxyStocks highlighted that the NKE return on investment was recorded as19.17% percent as compare to its rivals has Coach, Inc. (NYSE:COH)’s ROI 44.79 percent, Deckers Outdoor Corp (NASDAQ:DECK)’s ROI 20.79 percent, Crocs, Inc. (NASDAQ:CROX)’s ROI 12.75 percent and Iconix Brand Group, Inc. (NASDAQ:ICON)’s ROI 7.08 percent.
Several other analysts have also recently commented on the stock. Analysts at ISI Group reiterated a buy rating on shares of Nike in a research note to investors on Friday, December 21st. They now have a 120 dollars price target on the stock, up previously from 100 dollars, reported 'Investors Business Daily'. Separately, analysts at JPMorgan Chase reiterated a neutral rating on shares of Nike in a research note to investors on Friday, December 21st. They now have a 100 dollars price target on the stock. They noted that the move was a valuation call.
Finally, analysts at Canaccord Genuity raised their price target on shares of Nike from 94 dollars to 100 in a research note to investors on Friday, December 21st. They now have a hold rating on the stock.