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Nike (NKE) Dips More Than Broader Market: What You Should Know
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Nike (NKE - Free Report) closed the latest trading day at $81.02, indicating a -0.37% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.16%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw a decrease of 0.3%.
Shares of the athletic apparel maker have appreciated by 12.17% over the course of the past month, outperforming the Consumer Discretionary sector's gain of 5.25% and the S&P 500's gain of 3.64%.
Investors will be eagerly watching for the performance of Nike in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.54, showcasing a 42.55% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $11.71 billion, down 9.53% from the year-ago period.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $3.10 per share and revenue of $48.76 billion. These results would represent year-over-year changes of -21.52% and -5.06%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Nike. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 0.64% downward. Currently, Nike is carrying a Zacks Rank of #4 (Sell).
In terms of valuation, Nike is presently being traded at a Forward P/E ratio of 26.25. This expresses a premium compared to the average Forward P/E of 16.13 of its industry.
We can also see that NKE currently has a PEG ratio of 2.13. 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. Shoes and Retail Apparel stocks are, on average, holding a PEG ratio of 1.79 based on yesterday's closing prices.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 85, positioning it in the top 34% 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.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.
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Nike (NKE) Dips More Than Broader Market: What You Should Know
Nike (NKE - Free Report) closed the latest trading day at $81.02, indicating a -0.37% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.16%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw a decrease of 0.3%.
Shares of the athletic apparel maker have appreciated by 12.17% over the course of the past month, outperforming the Consumer Discretionary sector's gain of 5.25% and the S&P 500's gain of 3.64%.
Investors will be eagerly watching for the performance of Nike in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.54, showcasing a 42.55% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $11.71 billion, down 9.53% from the year-ago period.
NKE's full-year Zacks Consensus Estimates are calling for earnings of $3.10 per share and revenue of $48.76 billion. These results would represent year-over-year changes of -21.52% and -5.06%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Nike. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 0.64% downward. Currently, Nike is carrying a Zacks Rank of #4 (Sell).
In terms of valuation, Nike is presently being traded at a Forward P/E ratio of 26.25. This expresses a premium compared to the average Forward P/E of 16.13 of its industry.
We can also see that NKE currently has a PEG ratio of 2.13. 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. Shoes and Retail Apparel stocks are, on average, holding a PEG ratio of 1.79 based on yesterday's closing prices.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 85, positioning it in the top 34% 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.
To follow NKE in the coming trading sessions, be sure to utilize Zacks.com.