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Nike (NKE) Stock Moves -0.48%: What You Should Know
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In the latest trading session, Nike (NKE - Free Report) closed at $119.59, marking a -0.48% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.53%. Meanwhile, the Dow lost 1.72%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Heading into today, shares of the athletic apparel maker had lost 4.42% over the past month, lagging the Consumer Discretionary sector's loss of 3.57% and the S&P 500's loss of 1.28% 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 $0.50, down 42.53% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.37 billion, up 4.62% from the year-ago period.
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.
Investors might also notice recent changes to analyst estimates for Nike. Recent revisions tend to reflect the latest near-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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.36% higher within the past month. Nike currently has a Zacks Rank of #2 (Buy).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 38.51. For comparison, its industry has an average Forward P/E of 14.64, which means Nike is trading at a premium to the group.
Investors should also note that NKE has a PEG ratio of 4.02 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NKE's industry had an average PEG ratio of 2.66 as of yesterday's close.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.
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Nike (NKE) Stock Moves -0.48%: What You Should Know
In the latest trading session, Nike (NKE - Free Report) closed at $119.59, marking a -0.48% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.53%. Meanwhile, the Dow lost 1.72%, and the Nasdaq, a tech-heavy index, lost 3.27%.
Heading into today, shares of the athletic apparel maker had lost 4.42% over the past month, lagging the Consumer Discretionary sector's loss of 3.57% and the S&P 500's loss of 1.28% 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 $0.50, down 42.53% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.37 billion, up 4.62% from the year-ago period.
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.
Investors might also notice recent changes to analyst estimates for Nike. Recent revisions tend to reflect the latest near-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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.36% higher within the past month. Nike currently has a Zacks Rank of #2 (Buy).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 38.51. For comparison, its industry has an average Forward P/E of 14.64, which means Nike is trading at a premium to the group.
Investors should also note that NKE has a PEG ratio of 4.02 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NKE's industry had an average PEG ratio of 2.66 as of yesterday's close.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.