Nike Shares Hit 12-Year Low as Tariff Refund Boosts EPS, Analysts Cut Targets
2026-07-01 19:32:19
Nike (NKE) shares slid about 1% on Wednesday, briefly trading near $40, the lowest level in about 12 years, despite an earnings beat that was boosted by a one-time tariff refund. According to BeInCrypto, Nike posted profit of $0.20 per share versus $0.13 expected, but about $0.52 per share of the $0.72 EPS cited in the report came from a $986 million tariff refund after the Supreme Court struck down many levies. Sales slipped to $10.97 billion and China sales fell 12%. Goldman Sachs cut its target to $42 from $46, JPMorgan to $47 from $52; UBS kept $48 and Jefferies stayed at $90.
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