Nike Dividend Yield Hits 4.87%, Matching 2-Year Treasury After Stock Crash

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Summary · why it matters

Nike's dividend yield has climbed to 4.87%, roughly matching the 4.85% yield on the 2-year Treasury note, after a stock crash that has left the athletic-wear maker trading at record lows. The move follows Nike's earnings report late last week, in which CEO Elliott Hill suggested the weak sportswear market will continue in the medium term, forcing the company to discount slow-moving product, while full fiscal-year earnings guidance came in well below analyst estimates. Quarterly results showed Nike Brand sales fell 4%, online sales plunged 13%, Converse sales tanked 28% and China sales crashed 26%, and the company signaled a fresh round of major layoffs was coming. Nike stock is now down 47% year to date and 77% over the past five years. Jefferies analyst Randy Konik said that for investors willing to look beyond near-term volatility, Nike offers both income and recovery potential, while Stifel analyst Peter McGoldrick said he is not ready to call a bottom with shares trading at 28x P/E at the midpoint of FY27E guidance.

Impact on assets 3

Financials▲ · 2 stocks
Consumer Discretionary▼ · 1 stocks
Nike Inc
NKE
▼ NegativeCapitalrelevance

Nike's earnings guidance came in well below estimates with Nike Brand sales down 4%, online down 13%, and a new round of major layoffs signaled.

Off-coverage companies 1

Converse Inc.Private▼ Negative
Demandrelevance

Converse sales tanked 28% in Nike's quarterly results, a direct end-demand decline for the brand.

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