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Nike (NKE) Stock Moves -0.14%: What You Should Know
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Nike (NKE - Free Report) closed the most recent trading day at $118.68, moving -0.14% from the previous trading session. This change was narrower than the S&P 500's 0.75% loss on the day. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, added 0.24%.
Prior to today's trading, shares of the athletic apparel maker had lost 3.26% over the past month. This has lagged the Consumer Discretionary sector's loss of 0.32% and the S&P 500's gain of 0.32% in that time.
Nike will be looking to display strength as it nears its next earnings release, which is expected to be June 27, 2022. The company is expected to report EPS of $0.72, down 22.58% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $12.31 billion, down 0.3% from the prior-year quarter.
Any recent changes to analyst estimates for Nike should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 0.53% lower. Nike is currently a Zacks Rank #4 (Sell).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 32.08. For comparison, its industry has an average Forward P/E of 13.15, which means Nike is trading at a premium to the group.
Investors should also note that NKE has a PEG ratio of 2.29 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. NKE's industry had an average PEG ratio of 1.35 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 76, putting it in the top 31% 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.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.
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Nike (NKE) Stock Moves -0.14%: What You Should Know
Nike (NKE - Free Report) closed the most recent trading day at $118.68, moving -0.14% from the previous trading session. This change was narrower than the S&P 500's 0.75% loss on the day. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, added 0.24%.
Prior to today's trading, shares of the athletic apparel maker had lost 3.26% over the past month. This has lagged the Consumer Discretionary sector's loss of 0.32% and the S&P 500's gain of 0.32% in that time.
Nike will be looking to display strength as it nears its next earnings release, which is expected to be June 27, 2022. The company is expected to report EPS of $0.72, down 22.58% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $12.31 billion, down 0.3% from the prior-year quarter.
Any recent changes to analyst estimates for Nike should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 0.53% lower. Nike is currently a Zacks Rank #4 (Sell).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 32.08. For comparison, its industry has an average Forward P/E of 13.15, which means Nike is trading at a premium to the group.
Investors should also note that NKE has a PEG ratio of 2.29 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. NKE's industry had an average PEG ratio of 1.35 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 76, putting it in the top 31% 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.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.