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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 $104.12 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 0.72%. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the athletic apparel maker had lost 9.06% over the past month, outpacing the Consumer Discretionary sector's loss of 9.31% and trading in line with the S&P 500.
Wall Street will be looking for positivity from Nike as it approaches its next earnings report date. This is expected to be September 29, 2022. 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 $12.33 billion, up 0.65% from the prior-year quarter.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $3.78 per share and revenue of $50.36 billion. These results would represent year-over-year changes of +0.8% and +7.81%, respectively.
It is also important to note the recent changes to analyst estimates for Nike. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.42% lower within the past month. Nike is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Nike is holding a Forward P/E ratio of 27.89. For comparison, its industry has an average Forward P/E of 13.68, which means Nike is trading at a premium to the group.
Investors should also note that NKE has a PEG ratio of 2.23 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 1.71 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 214, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Dips More Than Broader Markets: What You Should Know
Nike (NKE - Free Report) closed at $104.12 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 0.72%. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the athletic apparel maker had lost 9.06% over the past month, outpacing the Consumer Discretionary sector's loss of 9.31% and trading in line with the S&P 500.
Wall Street will be looking for positivity from Nike as it approaches its next earnings report date. This is expected to be September 29, 2022. 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 $12.33 billion, up 0.65% from the prior-year quarter.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $3.78 per share and revenue of $50.36 billion. These results would represent year-over-year changes of +0.8% and +7.81%, respectively.
It is also important to note the recent changes to analyst estimates for Nike. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.42% lower within the past month. Nike is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Nike is holding a Forward P/E ratio of 27.89. For comparison, its industry has an average Forward P/E of 13.68, which means Nike is trading at a premium to the group.
Investors should also note that NKE has a PEG ratio of 2.23 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 1.71 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 214, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.