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Nike (NKE) Stock Moves -0.98%: What You Should Know
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Nike (NKE - Free Report) closed the most recent trading day at $136.83, moving -0.98% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.84%. Elsewhere, the Dow lost 1.38%, while the tech-heavy Nasdaq lost 0.38%.
Coming into today, shares of the athletic apparel maker had lost 5.01% in the past month. In that same time, the Consumer Discretionary sector lost 0.65%, while the S&P 500 lost 1.96%.
Investors will be hoping for strength from Nike as it approaches its next earnings release, which is expected to be March 21, 2022. On that day, Nike is projected to report earnings of $0.72 per share, which would represent a year-over-year decline of 20%. Meanwhile, our latest consensus estimate is calling for revenue of $10.61 billion, up 2.43% from the prior-year quarter.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $3.69 per share and revenue of $47.13 billion. These results would represent year-over-year changes of +3.65% and +5.83%, respectively.
Investors should also note any 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Nike is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Nike is currently trading at a Forward P/E ratio of 37.43. This valuation marks a premium compared to its industry's average Forward P/E of 14.3.
Investors should also note that NKE has a PEG ratio of 2.57 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Shoes and Retail Apparel industry currently had an average PEG ratio of 0.95 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 43, which puts it in the top 17% 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.
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Nike (NKE) Stock Moves -0.98%: What You Should Know
Nike (NKE - Free Report) closed the most recent trading day at $136.83, moving -0.98% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.84%. Elsewhere, the Dow lost 1.38%, while the tech-heavy Nasdaq lost 0.38%.
Coming into today, shares of the athletic apparel maker had lost 5.01% in the past month. In that same time, the Consumer Discretionary sector lost 0.65%, while the S&P 500 lost 1.96%.
Investors will be hoping for strength from Nike as it approaches its next earnings release, which is expected to be March 21, 2022. On that day, Nike is projected to report earnings of $0.72 per share, which would represent a year-over-year decline of 20%. Meanwhile, our latest consensus estimate is calling for revenue of $10.61 billion, up 2.43% from the prior-year quarter.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $3.69 per share and revenue of $47.13 billion. These results would represent year-over-year changes of +3.65% and +5.83%, respectively.
Investors should also note any 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Nike is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Nike is currently trading at a Forward P/E ratio of 37.43. This valuation marks a premium compared to its industry's average Forward P/E of 14.3.
Investors should also note that NKE has a PEG ratio of 2.57 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Shoes and Retail Apparel industry currently had an average PEG ratio of 0.95 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 43, which puts it in the top 17% 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.