We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nike (NKE) Stock Moves -0.23%: What You Should Know
Read MoreHide Full Article
In the latest trading session, Nike (NKE - Free Report) closed at $80.83, marking a -0.23% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.3% for the day. Elsewhere, the Dow saw a downswing of 0.54%, while the tech-heavy Nasdaq appreciated by 0.25%.
Coming into today, shares of the athletic apparel maker had gained 11.57% in the past month. In that same time, the Consumer Discretionary sector gained 5.12%, while the S&P 500 gained 3.42%.
Market participants will be closely following the financial results of Nike in its upcoming release. The company plans to announce its earnings on October 1, 2024. 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. Meanwhile, our latest consensus estimate is calling for revenue of $11.71 billion, down 9.53% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $3.10 per share and a revenue of $48.76 billion, demonstrating changes of -21.52% and -5.06%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nike. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.64% fall in the Zacks Consensus EPS estimate. Nike is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Nike is holding a Forward P/E ratio of 26.16. This denotes a premium relative to the industry's average Forward P/E of 16.22.
Meanwhile, NKE's PEG ratio is currently 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. As of the close of trade yesterday, the Shoes and Retail Apparel industry held an average PEG ratio of 1.77.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nike (NKE) Stock Moves -0.23%: What You Should Know
In the latest trading session, Nike (NKE - Free Report) closed at $80.83, marking a -0.23% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.3% for the day. Elsewhere, the Dow saw a downswing of 0.54%, while the tech-heavy Nasdaq appreciated by 0.25%.
Coming into today, shares of the athletic apparel maker had gained 11.57% in the past month. In that same time, the Consumer Discretionary sector gained 5.12%, while the S&P 500 gained 3.42%.
Market participants will be closely following the financial results of Nike in its upcoming release. The company plans to announce its earnings on October 1, 2024. 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. Meanwhile, our latest consensus estimate is calling for revenue of $11.71 billion, down 9.53% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $3.10 per share and a revenue of $48.76 billion, demonstrating changes of -21.52% and -5.06%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nike. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.64% fall in the Zacks Consensus EPS estimate. Nike is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Nike is holding a Forward P/E ratio of 26.16. This denotes a premium relative to the industry's average Forward P/E of 16.22.
Meanwhile, NKE's PEG ratio is currently 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. As of the close of trade yesterday, the Shoes and Retail Apparel industry held an average PEG ratio of 1.77.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.