In the latest trading session, Nike (NKE - Free Report) closed at $82.96, marking a +0.23% move from the previous day. This move outpaced the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Prior to today's trading, shares of the athletic apparel maker had lost 2.49% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.91% and the S&P 500's loss of 0.43% in that time.
Wall Street will be looking for positivity from NKE as it approaches its next earnings report date. In that report, analysts expect NKE to post earnings of $0.67 per share. This would mark a year-over-year decline of 2.9%. Meanwhile, our latest consensus estimate is calling for revenue of $10.17 billion, up 3.89% from the prior-year quarter.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $2.55 per share and revenue of $39.10 billion. These results would represent year-over-year changes of +5.37% and +7.41%, respectively.
Any recent changes to analyst estimates for NKE should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. The Zacks Consensus EPS estimate remained stagnant within the past month. NKE is currently a Zacks Rank #3 (Hold).
Digging into valuation, NKE currently has a Forward P/E ratio of 32.44. Its industry sports an average Forward P/E of 15.19, so we one might conclude that NKE is trading at a premium comparatively.
Investors should also note that NKE has a PEG ratio of 2.49 right now. 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 1.83 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 44, which puts it in the top 18% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.