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Nike (NKE) Stock Declines While Market Improves: Some Information for Investors
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In the latest trading session, Nike (NKE - Free Report) closed at $76.39, marking a -1.05% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.03%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.01%.
The athletic apparel maker's stock has climbed by 7.07% in the past month, exceeding the Consumer Discretionary sector's gain of 0.32% and the S&P 500's gain of 3.46%.
The upcoming earnings release of Nike will be of great interest to investors. The company's upcoming EPS is projected at $0.27, signifying a 61.43% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.98 billion, down 5.23% from the year-ago period.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $1.69 per share and revenue of $45.71 billion. These results would represent year-over-year changes of -21.76% and -1.29%, respectively.
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, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.07% upward. 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 45.82. This expresses a premium compared to the average Forward P/E of 17.84 of its industry.
Also, we should mention that NKE has a PEG ratio of 2.81. 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. NKE's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 97, finds itself in the top 40% echelons 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.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.
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Nike (NKE) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Nike (NKE - Free Report) closed at $76.39, marking a -1.05% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.03%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.01%.
The athletic apparel maker's stock has climbed by 7.07% in the past month, exceeding the Consumer Discretionary sector's gain of 0.32% and the S&P 500's gain of 3.46%.
The upcoming earnings release of Nike will be of great interest to investors. The company's upcoming EPS is projected at $0.27, signifying a 61.43% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.98 billion, down 5.23% from the year-ago period.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $1.69 per share and revenue of $45.71 billion. These results would represent year-over-year changes of -21.76% and -1.29%, respectively.
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, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.07% upward. 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 45.82. This expresses a premium compared to the average Forward P/E of 17.84 of its industry.
Also, we should mention that NKE has a PEG ratio of 2.81. 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. NKE's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 97, finds itself in the top 40% echelons 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.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.