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.