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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 $114.30 in the latest trading session, marking a -0.54% move from the prior day. This change lagged the S&P 500's daily loss of 0.28%. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.14%.
Heading into today, shares of the athletic apparel maker had gained 13.58% over the past month, outpacing the Consumer Discretionary sector's gain of 5.98% and the S&P 500's gain of 8.35% in that time.
Wall Street will be looking for positivity from Nike as it approaches its next earnings report date. In that report, analysts expect Nike to post earnings of $0.93 per share. This would mark a year-over-year decline of 19.83%. Meanwhile, our latest consensus estimate is calling for revenue of $12.36 billion, up 0.92% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.82 per share and revenue of $50.48 billion. These totals would mark changes of +1.87% and +8.07%, respectively, from last year.
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. 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 0.86% lower. Nike currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Nike is holding a Forward P/E ratio of 30.06. This represents a premium compared to its industry's average Forward P/E of 12.53.
We can also see that NKE currently has a PEG ratio of 2.41. 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. The Shoes and Retail Apparel industry currently had an average PEG ratio of 2.41 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 205, putting it in the bottom 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nike (NKE) Dips More Than Broader Markets: What You Should Know
Nike (NKE - Free Report) closed at $114.30 in the latest trading session, marking a -0.54% move from the prior day. This change lagged the S&P 500's daily loss of 0.28%. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.14%.
Heading into today, shares of the athletic apparel maker had gained 13.58% over the past month, outpacing the Consumer Discretionary sector's gain of 5.98% and the S&P 500's gain of 8.35% in that time.
Wall Street will be looking for positivity from Nike as it approaches its next earnings report date. In that report, analysts expect Nike to post earnings of $0.93 per share. This would mark a year-over-year decline of 19.83%. Meanwhile, our latest consensus estimate is calling for revenue of $12.36 billion, up 0.92% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.82 per share and revenue of $50.48 billion. These totals would mark changes of +1.87% and +8.07%, respectively, from last year.
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. 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 0.86% lower. Nike currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Nike is holding a Forward P/E ratio of 30.06. This represents a premium compared to its industry's average Forward P/E of 12.53.
We can also see that NKE currently has a PEG ratio of 2.41. 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. The Shoes and Retail Apparel industry currently had an average PEG ratio of 2.41 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 205, putting it in the bottom 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.