Nike (NYSE:NKE) Expected To Beat Market Consensus

Nike Inc. (NYSE:NKE) is scheduled to announce quarterly earnings on Sept. 22, 2011. The company will be presenting its report after the closing bell. Nike deals in footwear, equipment and accessories. The company is likely to announce a drop in earnings per share due to weak economic conditions. However, it is also expected to beat consensus estimates.

In the previous quarter:

• Nike reported record revenue of $5.766 billion, up from $5.077 billion it posted in the corresponding quarter of 2010.
• Operating income reported was $773 million, up from $683 million it earned in the same quarter of fiscal 2010.
• The company reported diluted EPS of $1.24 as compared with $1.06 per share in the same quarter of fiscal 2010.
• Net income was reported at $594 million, up from $522 million reported in the corresponding quarter of 2010.

Nike is expected to earn between $1.13 and $1.38 per share this quarter with a consensus estimate of $1.21 and a coefficient variance of 4.86. Nike offers its products in several categories such as running, training, basketball, baseball, cheerleading, football, golf, lacrosse, outdoor activities, skateboarding, tennis and walking shoes. The company also deals in sports-inspired lifestyle apparel, athletic bags, and accessory items? with licensed college, professional team, and league logos. Nike is operational globally and has its manufacturing facilities globally. The company has faced wide criticism for its labor practices. The company owns several brands in its portfolio such as Cole Haan, Converse, Chuck Taylor, All Star, Jack Purcell, Hurley, Umbro and Chevron. Nike markets its products via its own retail stores, internet sales and retail accounts. The company was founded in 1964. Nike is based out of Oregon.

Nike currently has a market price of $89.21 and has been trading in the range of $69.43 to $94.23 over the p! ast 52 w eeks. The stock has an average target price of $99.17. Analysts currently have an average recommendation of Overweight on the stock.

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