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Nike (NKE - Free Report) ended the recent trading session at $74.01, demonstrating a +0.22% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.84%. Meanwhile, the Dow experienced a drop of 1.51%, and the technology-dominated Nasdaq saw a decrease of 2.43%.
Coming into today, shares of the athletic apparel maker had lost 1.85% in the past month. In that same time, the Consumer Discretionary sector lost 0.29%, while the S&P 500 lost 0.43%.
The upcoming earnings release of Nike will be of great interest to investors. It is anticipated that the company will report an EPS of $0.54, marking a 42.55% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $11.71 billion, indicating a 9.53% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.12 per share and a revenue of $48.82 billion, demonstrating changes of -21.01% and -4.94%, respectively, from the preceding year.
Investors should also note any 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.49% downward. Nike is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 23.69. This represents a premium compared to its industry's average Forward P/E of 15.23.
Also, we should mention that NKE has a PEG ratio of 1.92. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. NKE's industry had an average PEG ratio of 1.79 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 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why the Market Dipped But Nike (NKE) Gained Today
Nike (NKE - Free Report) ended the recent trading session at $74.01, demonstrating a +0.22% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.84%. Meanwhile, the Dow experienced a drop of 1.51%, and the technology-dominated Nasdaq saw a decrease of 2.43%.
Coming into today, shares of the athletic apparel maker had lost 1.85% in the past month. In that same time, the Consumer Discretionary sector lost 0.29%, while the S&P 500 lost 0.43%.
The upcoming earnings release of Nike will be of great interest to investors. It is anticipated that the company will report an EPS of $0.54, marking a 42.55% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $11.71 billion, indicating a 9.53% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.12 per share and a revenue of $48.82 billion, demonstrating changes of -21.01% and -4.94%, respectively, from the preceding year.
Investors should also note any 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.49% downward. Nike is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 23.69. This represents a premium compared to its industry's average Forward P/E of 15.23.
Also, we should mention that NKE has a PEG ratio of 1.92. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. NKE's industry had an average PEG ratio of 1.79 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 69, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.