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Nike (NKE) Stock Moves -0.18%: What You Should Know
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Nike (NKE - Free Report) closed at $118.58 in the latest trading session, marking a -0.18% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.47%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, lost 15.51%.
Heading into today, shares of the athletic apparel maker had lost 6.71% over the past month, lagging the Consumer Discretionary sector's loss of 4.69% and the S&P 500's loss of 2.53% in that time.
Nike will be looking to display strength as it nears its next earnings release, which is expected to be March 21, 2023. The company is expected to report EPS of $0.64, down 26.44% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.37 billion, up 4.62% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.12 per share and revenue of $49.94 billion, which would represent changes of -16.8% and +6.92%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nike. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.36% higher within the past month. Nike is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Nike has a Forward P/E ratio of 38.07 right now. This valuation marks a premium compared to its industry's average Forward P/E of 14.73.
Also, we should mention that NKE has a PEG ratio of 3.97. 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 was holding an average PEG ratio of 2.61 at yesterday's closing price.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nike (NKE) Stock Moves -0.18%: What You Should Know
Nike (NKE - Free Report) closed at $118.58 in the latest trading session, marking a -0.18% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.47%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, lost 15.51%.
Heading into today, shares of the athletic apparel maker had lost 6.71% over the past month, lagging the Consumer Discretionary sector's loss of 4.69% and the S&P 500's loss of 2.53% in that time.
Nike will be looking to display strength as it nears its next earnings release, which is expected to be March 21, 2023. The company is expected to report EPS of $0.64, down 26.44% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.37 billion, up 4.62% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.12 per share and revenue of $49.94 billion, which would represent changes of -16.8% and +6.92%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Nike. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.36% higher within the past month. Nike is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Nike has a Forward P/E ratio of 38.07 right now. This valuation marks a premium compared to its industry's average Forward P/E of 14.73.
Also, we should mention that NKE has a PEG ratio of 3.97. 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 was holding an average PEG ratio of 2.61 at yesterday's closing price.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 211, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.