Nike Inc (NYSE:NKE) shares are trading lower Tuesday after the company reported earnings. Several analysts also lowered price targets on the stock following the company's quarterly results.
Nike reported fiscal fourth-quarter revenue of $12.2 billion, which beat the estimate of $12.07 billion, according to data from Benzinga Pro. The company reported quarterly earnings of 90 cents per share, which beat the estimate of 81 cents per share.
North American sales were up 5% in the quarter, with sales up 25% in the EMEA region and up 43% in the APLA region. Nike noted that its China division posted a decline in the quarter.
Related Link: Nike Q4 Earnings Highlights: Sales And EPS Beat, Nike Direct Sales Up 7%, New Share Buyback And More
Nike also announced that its board authorized a new share repurchase program of $18 billion over four years.
Analyst Assessment:
NKE Price Action: Nike has traded between $179.10 and $103.46 over a 52-week period.
The stock was down 2.67% at $107.55 at time of publication.
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