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Nike (NKE) Gains As Market Dips: What You Should Know
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Nike (NKE - Free Report) closed the most recent trading day at $109.98, moving +0.4% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.53%.
Coming into today, shares of the athletic apparel maker had gained 0.7% in the past month. In that same time, the Consumer Discretionary sector gained 2.03%, while the S&P 500 gained 4.86%.
Investors will be hoping for strength from Nike as it approaches its next earnings release, which is expected to be June 29, 2023. In that report, analysts expect Nike to post earnings of $0.67 per share. This would mark a year-over-year decline of 25.56%. Our most recent consensus estimate is calling for quarterly revenue of $12.57 billion, up 2.78% from the year-ago period.
Investors might also notice 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.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.3% lower. Nike is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Nike currently has a Forward P/E ratio of 27.61. This represents a premium compared to its industry's average Forward P/E of 12.75.
Investors should also note that NKE has a PEG ratio of 2.6 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Shoes and Retail Apparel stocks are, on average, holding a PEG ratio of 1.94 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 114, putting it in the top 46% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nike (NKE) Gains As Market Dips: What You Should Know
Nike (NKE - Free Report) closed the most recent trading day at $109.98, moving +0.4% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.53%.
Coming into today, shares of the athletic apparel maker had gained 0.7% in the past month. In that same time, the Consumer Discretionary sector gained 2.03%, while the S&P 500 gained 4.86%.
Investors will be hoping for strength from Nike as it approaches its next earnings release, which is expected to be June 29, 2023. In that report, analysts expect Nike to post earnings of $0.67 per share. This would mark a year-over-year decline of 25.56%. Our most recent consensus estimate is calling for quarterly revenue of $12.57 billion, up 2.78% from the year-ago period.
Investors might also notice 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.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.3% lower. Nike is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Nike currently has a Forward P/E ratio of 27.61. This represents a premium compared to its industry's average Forward P/E of 12.75.
Investors should also note that NKE has a PEG ratio of 2.6 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Shoes and Retail Apparel stocks are, on average, holding a PEG ratio of 1.94 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 114, putting it in the top 46% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.