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Nike (NKE) Stock Moves -0.7%: What You Should Know
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Nike (NKE - Free Report) closed the latest trading day at $83.41, indicating a -0.7% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.89%. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 1.67%.
The the stock of athletic apparel maker has risen by 18.16% in the past month, leading the Consumer Discretionary sector's gain of 2.07% and the S&P 500's gain of 2.17%.
The upcoming earnings release of Nike will be of great interest to investors. On that day, Nike is projected to report earnings of $0.54 per share, which would represent a year-over-year decline of 42.55%. Meanwhile, the latest consensus estimate predicts the revenue to be $11.71 billion, indicating a 9.53% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.12 per share and revenue of $48.82 billion. These totals would mark changes of -21.01% and -4.94%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nike. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Nike is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Nike is currently trading at a Forward P/E ratio of 26.94. This represents a premium compared to its industry's average Forward P/E of 14.85.
It is also worth noting that NKE currently has a PEG ratio of 2.19. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Shoes and Retail Apparel industry was having an average PEG ratio of 1.98.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 82, positioning it in the top 33% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Nike (NKE) Stock Moves -0.7%: What You Should Know
Nike (NKE - Free Report) closed the latest trading day at $83.41, indicating a -0.7% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.89%. Meanwhile, the Dow lost 0.44%, and the Nasdaq, a tech-heavy index, lost 1.67%.
The the stock of athletic apparel maker has risen by 18.16% in the past month, leading the Consumer Discretionary sector's gain of 2.07% and the S&P 500's gain of 2.17%.
The upcoming earnings release of Nike will be of great interest to investors. On that day, Nike is projected to report earnings of $0.54 per share, which would represent a year-over-year decline of 42.55%. Meanwhile, the latest consensus estimate predicts the revenue to be $11.71 billion, indicating a 9.53% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.12 per share and revenue of $48.82 billion. These totals would mark changes of -21.01% and -4.94%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Nike. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Nike is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Nike is currently trading at a Forward P/E ratio of 26.94. This represents a premium compared to its industry's average Forward P/E of 14.85.
It is also worth noting that NKE currently has a PEG ratio of 2.19. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Shoes and Retail Apparel industry was having an average PEG ratio of 1.98.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 82, positioning it in the top 33% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.