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Nike (NKE) Stock Moves -0.51%: What You Should Know
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Nike (NKE - Free Report) closed the most recent trading day at $96.30, moving -0.51% from the previous trading session. This change was narrower than the S&P 500's 0.57% loss on the day. Elsewhere, the Dow lost 0.05%, while the tech-heavy Nasdaq lost 1.04%.
Prior to today's trading, shares of the athletic apparel maker had lost 10.08% over the past month. This has lagged the Consumer Discretionary sector's loss of 3.64% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from Nike as it approaches its next earnings release, which is expected to be September 28, 2023. On that day, Nike is projected to report earnings of $0.73 per share, which would represent a year-over-year decline of 21.51%. Our most recent consensus estimate is calling for quarterly revenue of $12.98 billion, up 2.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.71 per share and revenue of $53.64 billion. These totals would mark changes of +14.86% and +5.95%, respectively, from last year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.22% lower. Nike is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Nike is currently trading at a Forward P/E ratio of 26.08. This represents a premium compared to its industry's average Forward P/E of 12.45.
Also, we should mention that NKE has a PEG ratio of 1.71. 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. Shoes and Retail Apparel stocks are, on average, holding a PEG ratio of 1.11 based on yesterday's closing prices.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 17% 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 -0.51%: What You Should Know
Nike (NKE - Free Report) closed the most recent trading day at $96.30, moving -0.51% from the previous trading session. This change was narrower than the S&P 500's 0.57% loss on the day. Elsewhere, the Dow lost 0.05%, while the tech-heavy Nasdaq lost 1.04%.
Prior to today's trading, shares of the athletic apparel maker had lost 10.08% over the past month. This has lagged the Consumer Discretionary sector's loss of 3.64% and the S&P 500's gain of 0.64% in that time.
Investors will be hoping for strength from Nike as it approaches its next earnings release, which is expected to be September 28, 2023. On that day, Nike is projected to report earnings of $0.73 per share, which would represent a year-over-year decline of 21.51%. Our most recent consensus estimate is calling for quarterly revenue of $12.98 billion, up 2.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.71 per share and revenue of $53.64 billion. These totals would mark changes of +14.86% and +5.95%, respectively, from last year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.22% lower. Nike is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Nike is currently trading at a Forward P/E ratio of 26.08. This represents a premium compared to its industry's average Forward P/E of 12.45.
Also, we should mention that NKE has a PEG ratio of 1.71. 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. Shoes and Retail Apparel stocks are, on average, holding a PEG ratio of 1.11 based on yesterday's closing prices.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 17% 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.