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Nike (NKE) Stock Sinks As Market Gains: What You Should Know
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Nike (NKE - Free Report) closed at $133.35 in the latest trading session, marking a -0.45% move from the prior day. This change lagged the S&P 500's 0.02% gain on the day.
Prior to today's trading, shares of the athletic apparel maker had lost 1.8% over the past month. This has lagged the Consumer Discretionary sector's loss of 0.46% and the S&P 500's gain of 0.04% in that time.
Investors will be hoping for strength from NKE as it approaches its next earnings release, which is expected to be June 24, 2021. In that report, analysts expect NKE to post earnings of $0.50 per share. This would mark year-over-year growth of 198.04%. Meanwhile, our latest consensus estimate is calling for revenue of $11.09 billion, up 75.67% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for NKE. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 0.28% higher. NKE is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note NKE's current valuation metrics, including its Forward P/E ratio of 34.72. Its industry sports an average Forward P/E of 21.28, so we one might conclude that NKE is trading at a premium comparatively.
Investors should also note that NKE has a PEG ratio of 1.66 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. Shoes and Retail Apparel stocks are, on average, holding a PEG ratio of 1.47 based on yesterday's closing prices.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.
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Nike (NKE) Stock Sinks As Market Gains: What You Should Know
Nike (NKE - Free Report) closed at $133.35 in the latest trading session, marking a -0.45% move from the prior day. This change lagged the S&P 500's 0.02% gain on the day.
Prior to today's trading, shares of the athletic apparel maker had lost 1.8% over the past month. This has lagged the Consumer Discretionary sector's loss of 0.46% and the S&P 500's gain of 0.04% in that time.
Investors will be hoping for strength from NKE as it approaches its next earnings release, which is expected to be June 24, 2021. In that report, analysts expect NKE to post earnings of $0.50 per share. This would mark year-over-year growth of 198.04%. Meanwhile, our latest consensus estimate is calling for revenue of $11.09 billion, up 75.67% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for NKE. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 0.28% higher. NKE is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note NKE's current valuation metrics, including its Forward P/E ratio of 34.72. Its industry sports an average Forward P/E of 21.28, so we one might conclude that NKE is trading at a premium comparatively.
Investors should also note that NKE has a PEG ratio of 1.66 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. Shoes and Retail Apparel stocks are, on average, holding a PEG ratio of 1.47 based on yesterday's closing prices.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.