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Nike (NKE) Gains As Market Dips: What You Should Know
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In the latest trading session, Nike (NKE - Free Report) closed at $143.99, marking a +1.61% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.03%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq lost 0.58%.
Prior to today's trading, shares of the athletic apparel maker had gained 0.99% over the past month. This has lagged the Consumer Discretionary sector's gain of 6.49% and the S&P 500's gain of 4.45% in that time.
NKE will be looking to display strength as it nears its next earnings release. In that report, analysts expect NKE to post earnings of $0.75 per share. This would mark a year-over-year decline of 3.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.95 billion, up 8.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.96 per share and revenue of $43.12 billion, which would represent changes of +85% and +15.29%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NKE. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. NKE currently has a Zacks Rank of #3 (Hold).
Investors should also note NKE's current valuation metrics, including its Forward P/E ratio of 48.01. This valuation marks a premium compared to its industry's average Forward P/E of 19.78.
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 1.98 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 187, putting it in the bottom 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nike (NKE) Gains As Market Dips: What You Should Know
In the latest trading session, Nike (NKE - Free Report) closed at $143.99, marking a +1.61% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.03%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq lost 0.58%.
Prior to today's trading, shares of the athletic apparel maker had gained 0.99% over the past month. This has lagged the Consumer Discretionary sector's gain of 6.49% and the S&P 500's gain of 4.45% in that time.
NKE will be looking to display strength as it nears its next earnings release. In that report, analysts expect NKE to post earnings of $0.75 per share. This would mark a year-over-year decline of 3.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.95 billion, up 8.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.96 per share and revenue of $43.12 billion, which would represent changes of +85% and +15.29%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NKE. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. NKE currently has a Zacks Rank of #3 (Hold).
Investors should also note NKE's current valuation metrics, including its Forward P/E ratio of 48.01. This valuation marks a premium compared to its industry's average Forward P/E of 19.78.
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 1.98 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 187, putting it in the bottom 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.