Nike: share soars after quarterly results
(CercleFinance.com) - In New York, the Nike stock is soaring in early trading today (+12%), following Q4 results that exceeded expectations, along with positive comments from analysts.
On Thursday evening, Nike unveiled quarterly EPS that is up 15% at 69 cents, five cents above the consensus.
Q4 net profit reached 1.1 billion dollars, up 13%, while sales also rose 13% to 9.8 billion dollars.
Over the whole of the past fiscal year, however, the American sports goods giant saw its EPS fall by 53% to 1.17 dollar, while revenues rose by 6% to 36.4 billion dollars (+4% excluding currency effects).
Activity in North America is gaining momentum, the global outlook is improving as initiatives begin to bear fruit, an analyst at Susquehanna said this morning, raising his target price for the share from 64 dollars to 78 dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
On Thursday evening, Nike unveiled quarterly EPS that is up 15% at 69 cents, five cents above the consensus.
Q4 net profit reached 1.1 billion dollars, up 13%, while sales also rose 13% to 9.8 billion dollars.
Over the whole of the past fiscal year, however, the American sports goods giant saw its EPS fall by 53% to 1.17 dollar, while revenues rose by 6% to 36.4 billion dollars (+4% excluding currency effects).
Activity in North America is gaining momentum, the global outlook is improving as initiatives begin to bear fruit, an analyst at Susquehanna said this morning, raising his target price for the share from 64 dollars to 78 dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.