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Nike (NKE) Stock Sinks As Market Gains: What You Should Know
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The most recent trading session ended with Nike (NKE - Free Report) standing at $94.40, reflecting a -0.68% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.11%. Elsewhere, the Dow saw a downswing of 0.3%, while the tech-heavy Nasdaq appreciated by 0.56%.
Shares of the athletic apparel maker have appreciated by 3.15% over the course of the past month, underperforming the Consumer Discretionary sector's gain of 3.79% and the S&P 500's gain of 5.06%.
Analysts and investors alike will be keeping a close eye on the performance of Nike in its upcoming earnings disclosure. On that day, Nike is projected to report earnings of $0.69 per share, which would represent year-over-year growth of 4.55%. Meanwhile, the latest consensus estimate predicts the revenue to be $12.92 billion, indicating a 0.71% increase compared to the same quarter of the previous year.
Any recent changes to analyst estimates for Nike should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Nike is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Nike is presently trading at a Forward P/E ratio of 25.48. This valuation marks a premium compared to its industry's average Forward P/E of 17.02.
It is also worth noting that NKE currently has a PEG ratio of 1.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Shoes and Retail Apparel industry currently had an average PEG ratio of 1.82 as of yesterday's close.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Nike (NKE) Stock Sinks As Market Gains: What You Should Know
The most recent trading session ended with Nike (NKE - Free Report) standing at $94.40, reflecting a -0.68% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.11%. Elsewhere, the Dow saw a downswing of 0.3%, while the tech-heavy Nasdaq appreciated by 0.56%.
Shares of the athletic apparel maker have appreciated by 3.15% over the course of the past month, underperforming the Consumer Discretionary sector's gain of 3.79% and the S&P 500's gain of 5.06%.
Analysts and investors alike will be keeping a close eye on the performance of Nike in its upcoming earnings disclosure. On that day, Nike is projected to report earnings of $0.69 per share, which would represent year-over-year growth of 4.55%. Meanwhile, the latest consensus estimate predicts the revenue to be $12.92 billion, indicating a 0.71% increase compared to the same quarter of the previous year.
Any recent changes to analyst estimates for Nike should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Nike is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Nike is presently trading at a Forward P/E ratio of 25.48. This valuation marks a premium compared to its industry's average Forward P/E of 17.02.
It is also worth noting that NKE currently has a PEG ratio of 1.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Shoes and Retail Apparel industry currently had an average PEG ratio of 1.82 as of yesterday's close.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.