NIKE, Inc. NKE reported better-than-expected earnings and sales results for its first quarter on Thursday. However, the company reported a rise in quarter-ended inventories and revenue in the Greater China region also declined from a year ago.
Nike reported first-quarter revenue of $12.7 billion, up 4% year-over-year. The total came in ahead of a Street estimate of $12.27 billion. Earnings per share for Nike were 93 cents in the first quarter, beating a Street estimate of 92 cents per share.
Nike shares fell 10.8% to $85.07 in pre-market trading.
These analysts made changes to their price targets on Nike after the company released quarterly results.
- Telsey Advisory Group cut price target on Nike from $125 to $110. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating on the stock.
- Citigroup lowered Nike’s price target from $113 to $93. Citigroup analyst Paul Lejuez maintained the stock with a Neutral.
- RBC Capital reduced Nike price target from $125 to $115. RBC Capital analyst Piral Dadhania maintained an Outperform rating on the stock.
- Goldman Sachs cut price target on the stock from 120 to $98. Goldman Sachs analyst Kate McShane maintained Nike with a Buy.
- Jefferies lowered the price target on the stock from $130 to $115. Jefferies analyst Randal Konik maintained the stock with a Buy.
- Cowen & Co. slashed Nike price target from $127 to $114. Wells Cowen & Co. analyst John Kernan maintained an Outperform rating on the stock.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.