In the latest market close, Nike (NKE - Free Report) reached $100.76, with a -1.12% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.26%, and the technology-dominated Nasdaq saw an increase of 0.36%.
Shares of the athletic apparel maker have depreciated by 5.67% over the course of the past month, underperforming the Consumer Discretionary sector's loss of 0.13% and the S&P 500's gain of 2.4%.
Analysts and investors alike will be keeping a close eye on the performance of Nike in its upcoming earnings disclosure. In that report, analysts expect Nike to post earnings of $0.72 per share. This would mark a year-over-year decline of 8.86%. Meanwhile, our latest consensus estimate is calling for revenue of $12.35 billion, down 0.34% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.57 per share and revenue of $51.77 billion. These totals would mark changes of +10.53% and +1.07%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nike. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.39% lower. Right now, Nike possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Nike is at present trading with a Forward P/E ratio of 28.55. This signifies a premium in comparison to the average Forward P/E of 12.28 for its industry.
It is also worth noting that NKE currently has a PEG ratio of 1.83. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Shoes and Retail Apparel industry currently had an average PEG ratio of 1.69 as of yesterday's close.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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In the latest market close, Nike (NKE - Free Report) reached $100.76, with a -1.12% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.26%, and the technology-dominated Nasdaq saw an increase of 0.36%.
Shares of the athletic apparel maker have depreciated by 5.67% over the course of the past month, underperforming the Consumer Discretionary sector's loss of 0.13% and the S&P 500's gain of 2.4%.
Analysts and investors alike will be keeping a close eye on the performance of Nike in its upcoming earnings disclosure. In that report, analysts expect Nike to post earnings of $0.72 per share. This would mark a year-over-year decline of 8.86%. Meanwhile, our latest consensus estimate is calling for revenue of $12.35 billion, down 0.34% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.57 per share and revenue of $51.77 billion. These totals would mark changes of +10.53% and +1.07%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nike. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.39% lower. Right now, Nike possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Nike is at present trading with a Forward P/E ratio of 28.55. This signifies a premium in comparison to the average Forward P/E of 12.28 for its industry.
It is also worth noting that NKE currently has a PEG ratio of 1.83. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Shoes and Retail Apparel industry currently had an average PEG ratio of 1.69 as of yesterday's close.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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