Analysts are weighing in with forecasts and expectations for Nike, Inc. NKE ahead of its second-quarter financial report due after Thursday's closing bell.
Nike's stock has declined significantly, trading below pre-Covid levels, making it a poor investment for many who saw it as a safe-haven. Recent data shows lackluster Black Friday sales for Nike, with Academy Sports reporting a 2% decrease in footwear sales, including Nike products. In this article, I explain why I believe Nike's upcoming results could be worse than anticipated.
Evaluate the expected performance of Nike (NKE) for the quarter ended November 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Nike (NKE) is set to report fiscal second-quarter earnings after the market closes Thursday, its first quarterly results since its new CEO, company veteran Elliott Hill, took over in October.
Some of the problems for Nike Inc., which on Thursday reports its first round of quarterly results under a new chief executive, have been problems for anyone trying to sell things people often want but don't really need.
Nike stock price will be in the spotlight next week as the highly embattled company publishes its financial results. These numbers will come at a time when its shares have plunged by over 54% from the highest point in 2021.
Nike (NYSE: NKE) closed Thursday, December 12, at $77.96, down $0.89, or 1.13%, as Wall Street weighed fresh price target revisions and anticipated new CEO Elliott Hill's debut on the upcoming earnings call.
Nike (NKE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
NKE soars on securing a 10-year deal with the NFL, aiming to shape the future of football with global growth, innovative gear and a focus on player safety.
Nike will continue to be he exclusive uniform provider for the NFL through 2038, a position it has held since 2012. The deal comes after the NFL briefly held talks with other bidders competing for the agreement.
Nike is a dominant leader in the athletic footwear and apparel space generating high ROIC and outlier EBIT margins. The company trades at a discount to historical, peer and DCF multiples with aligned management at the helm. Per my analysis, Nike is a Strong Buy at current levels that could offer ~13%-15% CAGR within 3 years in addition to ~2% dividends.
According to NextEarningsDate.com, the Nike next earnings date is projected to be 12/19 after the close, with earnings estimates of $0.83/share on $12.47 Billion of revenue.