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) Increases Yet Falls Behind Market: What Investors Need to Know
Read MoreHide Full Article
The most recent trading session ended with Nike (NKE - Free Report) standing at $78.40, reflecting a +0.4% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.07%. Elsewhere, the Dow saw an upswing of 0.31%, while the tech-heavy Nasdaq appreciated by 2.17%.
Prior to today's trading, shares of the athletic apparel maker had lost 0.52% over the past month. This has lagged the Consumer Discretionary sector's gain of 8.2% and the S&P 500's gain of 2.92% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Nike in its upcoming earnings disclosure. The company's earnings report is set to go public on October 1, 2024. The company is expected to report EPS of $0.52, down 44.68% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $11.64 billion, indicating a 10% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.06 per share and revenue of $48.65 billion, indicating changes of -22.53% and -5.28%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Nike. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, the Zacks Consensus EPS estimate has moved 0.88% lower. Nike is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 25.52. This signifies a premium in comparison to the average Forward P/E of 15.61 for its industry.
It is also worth noting that NKE currently has a PEG ratio of 2.07. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Shoes and Retail Apparel industry had an average PEG ratio of 1.68 as trading concluded yesterday.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Nike (NKE) Increases Yet Falls Behind Market: What Investors Need to Know
The most recent trading session ended with Nike (NKE - Free Report) standing at $78.40, reflecting a +0.4% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.07%. Elsewhere, the Dow saw an upswing of 0.31%, while the tech-heavy Nasdaq appreciated by 2.17%.
Prior to today's trading, shares of the athletic apparel maker had lost 0.52% over the past month. This has lagged the Consumer Discretionary sector's gain of 8.2% and the S&P 500's gain of 2.92% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Nike in its upcoming earnings disclosure. The company's earnings report is set to go public on October 1, 2024. The company is expected to report EPS of $0.52, down 44.68% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $11.64 billion, indicating a 10% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.06 per share and revenue of $48.65 billion, indicating changes of -22.53% and -5.28%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Nike. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, the Zacks Consensus EPS estimate has moved 0.88% lower. Nike is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Nike's current valuation metrics, including its Forward P/E ratio of 25.52. This signifies a premium in comparison to the average Forward P/E of 15.61 for its industry.
It is also worth noting that NKE currently has a PEG ratio of 2.07. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Shoes and Retail Apparel industry had an average PEG ratio of 1.68 as trading concluded yesterday.
The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.