Market Update (NYSE:NKE): Plug Power added Nike as customer in 2015, hitting $100 million revenue goal

[at American City Business Journals] – Plug Power, the Latham, New York, fuel cell maker, added Nike as a new customer in 2015, contributing to its goal of more than $100 million in revenue. CEO Andy Marsh confirmed that Nike is a customer during a business update conference call on Thursday. The company also signed on The Home Depot in 2015. Read more on this. NIKE, Inc. (NKE) , with a current market cap of $104.16B, began trading this morning at $60.32. Today’s price range has been between $59.98 and $61.23 per share with its 52-week range being $45.35 to $68.19. NKE shares are currently priced at 27.71x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 17.51x forward p/e ratio. The company pays shareholders $0.64 per share annually in dividends, yielding 1.05%. According to a consensus of 28 analysts, the earnings estimate of $0.49 per share would be $0.04 better than the year-ago quarter and a $0.04 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.15 is a $0.30 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $8.20 Billion. If realized, that would be a 9.92% increase over the year-ago quarter. More recently, BB&T Capital Mkts upgraded NKE from Hold to Buy (Oct 19, 2015). Previously, DA Davidson upgraded NKE from Neutral to Buy. The average price target for NKE shares is $72.40, which is 20.03% above where the stock opened this morning. See more in (NYSE:NKE) Similar Articles: Company Update (NYSE:NKE): NIKE, Inc. Announces Target of $50 Billion in Revenue by End of FY20* Stock Update: Nike Inc (NYSE:NKE) – NIKE, Inc. Announces Bob Hurley to Step Down as CEO of Hurley Stock Update (NYSE:NKE): NIKE, Inc. to Host Investor Day on October 14, 2015