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June 28, 2012 at 16:39 PM EDT
Nike’s Q4 Earnings Miss by 20 Cents; Shares Walloped After Hours (NKE)

Athletic footwear and apparel maker Nike, Inc. (NKE) late Thursday posted disappointing fiscal fourth quarter earnings results, sending its shares sharply lower in aftermarket trading.

The Beaverton, OR-based company reported fiscal fourth quarter net income of $549 million, or $1.17 per share, compared with $594 million, or $1.24 per share, in the year-ago period.

Revenue rose 12% from last year to $6.47 billion.

On average, Wall Street analysts expected a much higher profit of $1.37 per share, on larger revenue of $6.51 billion.

Nike shares plummeted $10.18, or -10.5%, in aftermarket trading Thursday.

The Bottom Line
Shares of Nike (NKE) have a 1.49% dividend yield, based on today’s closing stock price of $96.89. The stock has technical support in the $90-$93 price area, but if that fails to hold as it appears, the next area of support is around the $83-$85 price levels.

Nike, Inc. (NKE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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