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Nike beat earnings estimates, reported $11.1B revenue, and raised dividend despite sales drop.
NIKE, Inc. reported second-quarter earnings of $0.14 per share, beating estimates by $0.02, with revenue of $11.1 billion, exceeding forecasts despite an 11.9% year-over-year decline.
The stock, trading around $71.21, has a market cap of $105.17 billion and a P/E ratio of 32.97.
Institutional investors collectively own 64.25% of the company, with several firms increasing their stakes, including Perennial Advisors LLC, Flossbach Von Storch SE, and Xcel Wealth Management LLC.
Analysts maintain a "Moderate Buy" consensus rating with a target price of $79.46.
NIKE declared a quarterly dividend of $0.40 per share, yielding 2.2%, with a payout ratio of 74.07%.
The company designs and sells athletic footwear, apparel, and accessories globally under brands including Nike, Converse, and Jumpman.
Nike superó las estimaciones de ganancias, reportó ingresos de $11.1B, y aumentó el dividendo a pesar de la caída de las ventas.