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Nike (NKE) Dips More Than Broader Markets: What You Should Know
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Nike (NKE - Free Report) closed at $166.84 in the latest trading session, marking a -1.31% move from the prior day. This change lagged the S&P 500's daily loss of 0.91%. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Prior to today's trading, shares of the athletic apparel maker had lost 0.02% over the past month. This has was narrower than the Consumer Discretionary sector's loss of 6.88% and lagged the S&P 500's gain of 1.55% in that time.
Wall Street will be looking for positivity from Nike as it approaches its next earnings report date. This is expected to be December 20, 2021. On that day, Nike is projected to report earnings of $0.62 per share, which would represent a year-over-year decline of 20.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.23 billion, down 0.09% from the year-ago period.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $3.56 per share and revenue of $47.11 billion. These results would represent year-over-year changes of 0% and +5.76%, respectively.
Investors might also notice recent changes to analyst estimates for Nike. 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.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Nike is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Nike currently has a Forward P/E ratio of 47.43. For comparison, its industry has an average Forward P/E of 21.76, which means Nike is trading at a premium to the group.
Also, we should mention that NKE has a PEG ratio of 3.26. 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 1.37 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 234, which puts it in the bottom 8% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nike (NKE) Dips More Than Broader Markets: What You Should Know
Nike (NKE - Free Report) closed at $166.84 in the latest trading session, marking a -1.31% move from the prior day. This change lagged the S&P 500's daily loss of 0.91%. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Prior to today's trading, shares of the athletic apparel maker had lost 0.02% over the past month. This has was narrower than the Consumer Discretionary sector's loss of 6.88% and lagged the S&P 500's gain of 1.55% in that time.
Wall Street will be looking for positivity from Nike as it approaches its next earnings report date. This is expected to be December 20, 2021. On that day, Nike is projected to report earnings of $0.62 per share, which would represent a year-over-year decline of 20.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.23 billion, down 0.09% from the year-ago period.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $3.56 per share and revenue of $47.11 billion. These results would represent year-over-year changes of 0% and +5.76%, respectively.
Investors might also notice recent changes to analyst estimates for Nike. 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.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Nike is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Nike currently has a Forward P/E ratio of 47.43. For comparison, its industry has an average Forward P/E of 21.76, which means Nike is trading at a premium to the group.
Also, we should mention that NKE has a PEG ratio of 3.26. 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 1.37 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 234, which puts it in the bottom 8% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.