In the latest trading session, Nike (NKE - Free Report) closed at $97.01, marking a +0.39% move from the previous day. This change outpaced the S&P 500's 0.11% loss on the day. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.07%.
Coming into today, shares of the athletic apparel maker had gained 7.31% in the past month. In that same time, the Consumer Discretionary sector gained 2.59%, while the S&P 500 gained 1.62%.
Wall Street will be looking for positivity from NKE as it approaches its next earnings report date. This is expected to be December 19, 2019. On that day, NKE is projected to report earnings of $0.57 per share, which would represent year-over-year growth of 9.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.08 billion, up 7.53% from the year-ago period.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $2.97 per share and revenue of $42.23 billion. These results would represent year-over-year changes of +19.28% and +7.96%, respectively.
Any recent changes to analyst estimates for NKE should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. NKE is currently a Zacks Rank #3 (Hold).
Investors should also note NKE's current valuation metrics, including its Forward P/E ratio of 32.5. For comparison, its industry has an average Forward P/E of 18, which means NKE is trading at a premium to the group.
Meanwhile, NKE's PEG ratio is currently 2.49. 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 1.89 as of yesterday's close.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 204, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.