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Nike (NKE) Stock Moves -1.13%: What You Should Know
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Nike (NKE - Free Report) closed at $97.63 in the latest trading session, marking a -1.13% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.35%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Heading into today, shares of the athletic apparel maker had lost 9.65% over the past month, lagging the Consumer Discretionary sector's loss of 3.68% and the S&P 500's loss of 2.06% in that time.
Nike will be looking to display strength as it nears its next earnings release. On that day, Nike is projected to report earnings of $0.73 per share, which would represent a year-over-year decline of 21.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.98 billion, up 2.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.72 per share and revenue of $53.69 billion. These totals would mark changes of +15.17% and +4.83%, respectively, from last year.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Nike is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 26.55. This represents a premium compared to its industry's average Forward P/E of 13.48.
It is also worth noting that NKE currently has a PEG ratio of 1.74. 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 1.38 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 109, putting it in the top 44% 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.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.
Image: Bigstock
Nike (NKE) Stock Moves -1.13%: What You Should Know
Nike (NKE - Free Report) closed at $97.63 in the latest trading session, marking a -1.13% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.35%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Heading into today, shares of the athletic apparel maker had lost 9.65% over the past month, lagging the Consumer Discretionary sector's loss of 3.68% and the S&P 500's loss of 2.06% in that time.
Nike will be looking to display strength as it nears its next earnings release. On that day, Nike is projected to report earnings of $0.73 per share, which would represent a year-over-year decline of 21.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.98 billion, up 2.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.72 per share and revenue of $53.69 billion. These totals would mark changes of +15.17% and +4.83%, respectively, from last year.
Investors might also notice 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Nike is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 26.55. This represents a premium compared to its industry's average Forward P/E of 13.48.
It is also worth noting that NKE currently has a PEG ratio of 1.74. 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 1.38 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 109, putting it in the top 44% 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.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.