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Nike (NKE) Stock Moves -0.14%: What You Should Know
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In the latest trading session, Nike (NKE - Free Report) closed at $100.18, marking a -0.14% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Heading into today, shares of the athletic apparel maker had lost 8.54% over the past month, lagging the Consumer Discretionary sector's loss of 3.82% and the S&P 500's gain of 0.58% in that time.
Wall Street will be looking for positivity from Nike as it approaches its next earnings report date. This is expected to be September 28, 2023. In that report, analysts expect Nike to post earnings of $0.73 per share. This would mark a year-over-year decline of 21.51%. Meanwhile, our latest consensus estimate is calling for revenue of $12.98 billion, up 2.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.71 per share and revenue of $53.64 billion, which would represent changes of +14.86% and +4.72%, respectively, from the prior 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.22% lower within the past month. Nike is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Nike is holding a Forward P/E ratio of 27.03. This represents a premium compared to its industry's average Forward P/E of 13.72.
Investors should also note that NKE has a PEG ratio of 1.78 right now. 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 was holding an average PEG ratio of 1.32 at yesterday's closing price.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nike (NKE) Stock Moves -0.14%: What You Should Know
In the latest trading session, Nike (NKE - Free Report) closed at $100.18, marking a -0.14% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Heading into today, shares of the athletic apparel maker had lost 8.54% over the past month, lagging the Consumer Discretionary sector's loss of 3.82% and the S&P 500's gain of 0.58% in that time.
Wall Street will be looking for positivity from Nike as it approaches its next earnings report date. This is expected to be September 28, 2023. In that report, analysts expect Nike to post earnings of $0.73 per share. This would mark a year-over-year decline of 21.51%. Meanwhile, our latest consensus estimate is calling for revenue of $12.98 billion, up 2.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.71 per share and revenue of $53.64 billion, which would represent changes of +14.86% and +4.72%, respectively, from the prior 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.22% lower within the past month. Nike is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Nike is holding a Forward P/E ratio of 27.03. This represents a premium compared to its industry's average Forward P/E of 13.72.
Investors should also note that NKE has a PEG ratio of 1.78 right now. 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 was holding an average PEG ratio of 1.32 at yesterday's closing price.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.