We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nike (NKE) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Read MoreHide Full Article
Nike (NKE - Free Report) closed at $98.31 in the latest trading session, marking a -1.24% move from the prior day. This change lagged the S&P 500's daily loss of 1.02%. Elsewhere, the Dow lost 1.04%, while the tech-heavy Nasdaq lost 1.65%.
The athletic apparel maker's shares have seen a decrease of 0.14% over the last month, not keeping up with the Consumer Discretionary sector's gain of 1.11% and the S&P 500's gain of 3.64%.
The upcoming earnings release of Nike will be of great interest to investors. The company's earnings report is expected on March 21, 2024. The company's earnings per share (EPS) are projected to be $0.70, reflecting a 11.39% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $12.29 billion, down 0.82% 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 $51.75 billion. These totals would mark changes of +10.53% and +1.04%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nike. Such recent modifications usually signify the changing landscape of 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.12% higher. Nike presently features a Zacks Rank of #3 (Hold).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 27.86. This signifies a premium in comparison to the average Forward P/E of 14.61 for its industry.
We can also see that NKE currently has a PEG ratio of 1.85. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Shoes and Retail Apparel industry stood at 1.85 at the close of the market yesterday.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 230, this industry ranks in the bottom 9% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nike (NKE) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Nike (NKE - Free Report) closed at $98.31 in the latest trading session, marking a -1.24% move from the prior day. This change lagged the S&P 500's daily loss of 1.02%. Elsewhere, the Dow lost 1.04%, while the tech-heavy Nasdaq lost 1.65%.
The athletic apparel maker's shares have seen a decrease of 0.14% over the last month, not keeping up with the Consumer Discretionary sector's gain of 1.11% and the S&P 500's gain of 3.64%.
The upcoming earnings release of Nike will be of great interest to investors. The company's earnings report is expected on March 21, 2024. The company's earnings per share (EPS) are projected to be $0.70, reflecting a 11.39% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $12.29 billion, down 0.82% 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 $51.75 billion. These totals would mark changes of +10.53% and +1.04%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Nike. Such recent modifications usually signify the changing landscape of 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.12% higher. Nike presently features a Zacks Rank of #3 (Hold).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 27.86. This signifies a premium in comparison to the average Forward P/E of 14.61 for its industry.
We can also see that NKE currently has a PEG ratio of 1.85. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Shoes and Retail Apparel industry stood at 1.85 at the close of the market yesterday.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 230, this industry ranks in the bottom 9% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.