On Friday Sterne Agee announced that it has reiterated a “Neutral” rating on footwear company, NIKE, Inc. (NKE).
Following NKE’s fourth quarter results, the firm has maintained a “Neutral” rating on the company and has cut its estimates. Analyst Sam Poser reported that although the company’s results were solid, investments have caused the firm to lower estimates.
The analyst noted, “necessary investments are being made for long term growth.”
“The investments appear to be targeting material incremental profitable growth in time for the Olympics in Brazil in ’15 and ’16. We expect earnings to grow modestly for the foreseeable future. Lowering FY14 EPS from $3.04 to $2.96 and introducing our FY15 EPS estimate of $3.26.”
Nike shares were mostly flat during premarket trading Friday. The stock is up 21% YTD.
The Bottom Line
Shares of NIKE, Inc. (NKE) have a 1.35% yield, based on Thursday’s closing price of $62.32.
em>NIKE, Inc. (NKE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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