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Nike (NKE) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Nike (NKE - Free Report) closed at $134.17, marking a -0.25% move from the previous day. This move lagged the S&P 500's daily gain of 0.15%.
Coming into today, shares of the athletic apparel maker had gained 2.25% in the past month. In that same time, the Consumer Discretionary sector gained 0.15%, while the S&P 500 gained 0.58%.
Investors will be hoping for strength from NKE as it approaches its next earnings release, which is expected to be June 24, 2021. On that day, NKE is projected to report earnings of $0.50 per share, which would represent year-over-year growth of 198.04%. Our most recent consensus estimate is calling for quarterly revenue of $11.09 billion, up 75.67% from the year-ago period.
Any recent changes to analyst estimates for NKE should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% higher. NKE is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, NKE currently has a Forward P/E ratio of 34.85. This represents a premium compared to its industry's average Forward P/E of 22.16.
Meanwhile, NKE's PEG ratio is currently 1.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Shoes and Retail Apparel was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nike (NKE) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Nike (NKE - Free Report) closed at $134.17, marking a -0.25% move from the previous day. This move lagged the S&P 500's daily gain of 0.15%.
Coming into today, shares of the athletic apparel maker had gained 2.25% in the past month. In that same time, the Consumer Discretionary sector gained 0.15%, while the S&P 500 gained 0.58%.
Investors will be hoping for strength from NKE as it approaches its next earnings release, which is expected to be June 24, 2021. On that day, NKE is projected to report earnings of $0.50 per share, which would represent year-over-year growth of 198.04%. Our most recent consensus estimate is calling for quarterly revenue of $11.09 billion, up 75.67% from the year-ago period.
Any recent changes to analyst estimates for NKE should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% higher. NKE is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, NKE currently has a Forward P/E ratio of 34.85. This represents a premium compared to its industry's average Forward P/E of 22.16.
Meanwhile, NKE's PEG ratio is currently 1.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Shoes and Retail Apparel was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.