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Nike (NKE) Gains But Lags Market: What You Should Know
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In the latest trading session, Nike (NKE - Free Report) closed at $108.73, marking a +0.23% move from the previous day. The stock lagged the S&P 500's daily gain of 0.66%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the athletic apparel maker had lost 4.12% in the past month. In that same time, the Consumer Discretionary sector lost 4.73%, while the S&P 500 lost 3.79%.
Investors will be hoping for strength from Nike as it approaches its next earnings release, which is expected to be September 29, 2022. The company is expected to report EPS of $0.93, down 19.83% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $12.37 billion, up 1% from the year-ago period.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $3.79 per share and revenue of $50.49 billion. These results would represent year-over-year changes of +1.07% and +8.08%, respectively.
Investors should also note any recent changes to analyst estimates for Nike. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. Nike is currently a Zacks Rank #4 (Sell).
Digging into valuation, Nike currently has a Forward P/E ratio of 28.6. This valuation marks a premium compared to its industry's average Forward P/E of 14.28.
Also, we should mention that NKE has a PEG ratio of 2.29. 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 1.77 based on yesterday's closing prices.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nike (NKE) Gains But Lags Market: What You Should Know
In the latest trading session, Nike (NKE - Free Report) closed at $108.73, marking a +0.23% move from the previous day. The stock lagged the S&P 500's daily gain of 0.66%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the athletic apparel maker had lost 4.12% in the past month. In that same time, the Consumer Discretionary sector lost 4.73%, while the S&P 500 lost 3.79%.
Investors will be hoping for strength from Nike as it approaches its next earnings release, which is expected to be September 29, 2022. The company is expected to report EPS of $0.93, down 19.83% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $12.37 billion, up 1% from the year-ago period.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $3.79 per share and revenue of $50.49 billion. These results would represent year-over-year changes of +1.07% and +8.08%, respectively.
Investors should also note any recent changes to analyst estimates for Nike. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. Nike is currently a Zacks Rank #4 (Sell).
Digging into valuation, Nike currently has a Forward P/E ratio of 28.6. This valuation marks a premium compared to its industry's average Forward P/E of 14.28.
Also, we should mention that NKE has a PEG ratio of 2.29. 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 1.77 based on yesterday's closing prices.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.