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Nike (NKE) Increases Despite Market Slip: Here's What You Need to Know
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In the latest close session, Nike (NKE - Free Report) was up +1.65% at $42.57. The stock's change was more than the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.32%, while the tech-heavy Nasdaq lost 0.51%.
Shares of the athletic apparel maker witnessed a loss of 9.02% over the previous month, trailing the performance of the Consumer Discretionary sector with its loss of 7.08%, and the S&P 500's gain of 5.58%.
The upcoming earnings release of Nike will be of great interest to investors. It is anticipated that the company will report an EPS of $0.14, marking stability compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $10.87 billion, showing a 2.03% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.51 per share and a revenue of $46.36 billion, indicating changes of -30.09% and +0.11%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Nike. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.33% decrease. Nike is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Nike is currently exchanging hands at a Forward P/E ratio of 27.72. This expresses a premium compared to the average Forward P/E of 13.9 of its industry.
Meanwhile, NKE's PEG ratio is currently 2.22. 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. By the end of yesterday's trading, the Shoes and Retail Apparel industry had an average PEG ratio of 1.27.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 34% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Nike (NKE) Increases Despite Market Slip: Here's What You Need to Know
In the latest close session, Nike (NKE - Free Report) was up +1.65% at $42.57. The stock's change was more than the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.32%, while the tech-heavy Nasdaq lost 0.51%.
Shares of the athletic apparel maker witnessed a loss of 9.02% over the previous month, trailing the performance of the Consumer Discretionary sector with its loss of 7.08%, and the S&P 500's gain of 5.58%.
The upcoming earnings release of Nike will be of great interest to investors. It is anticipated that the company will report an EPS of $0.14, marking stability compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $10.87 billion, showing a 2.03% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.51 per share and a revenue of $46.36 billion, indicating changes of -30.09% and +0.11%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Nike. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.33% decrease. Nike is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Nike is currently exchanging hands at a Forward P/E ratio of 27.72. This expresses a premium compared to the average Forward P/E of 13.9 of its industry.
Meanwhile, NKE's PEG ratio is currently 2.22. 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. By the end of yesterday's trading, the Shoes and Retail Apparel industry had an average PEG ratio of 1.27.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 81, this industry ranks in the top 34% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.