Companies and Brands
What to Expect When Nike Reports After the Close
Published:
Last Updated:
Nike Inc. (NYSE: NKE) is scheduled to release its fiscal first-quarter financial results after the markets close on Tuesday. The consensus estimates from Thomson Reuters are calling for $0.63 in EPS and $9.94 billion in revenue. The same period of last year reportedly had EPS of $0.57 and $9.07 billion in revenue.
This apparel company has faced some tough criticism and reactionary setbacks to its reputation when it initially announced former quarterback Colin Kaepernick as the face of its new “Just Do It” campaign. However, a new report from Morning Consult found that the apparel company’s standing has now rebounded among its core demographics.
Following the initial Kaepernick announcement, Nike’s net favorability dropped 34 points in two days, from a net favorable rating of +69 on September 3 to a +35 by September 5. Now, Nike is slowly bouncing back, with its current net favorability standing at +39 as of Tuesday, an increase from +28 on September 12, its lowest mark since Morning Consult began tracking the company in October 2016.
Separately, “purchasing consideration” is seeing a stronger return to its pre-announcement numbers. Currently, the number stands at 62%, down just seven points from its pre-campaign level of 69% on September 3.
Overall Nike has outperformed the broad markets, with the stock up 58% in the past 52 weeks. In just 2018 alone, the stock is up closer to 35%.
A few analysts weighed in on Nike ahead of the report:
- Needham reiterated a Hold rating.
- Credit Suisse reiterated a Buy rating and a $90 target.
- Stifel has a Buy rating with a $96 price target.
- Pivotal Research has a Hold rating and an $85 target.
- Merrill Lynch has a Sell rating with a $50 target price.
- Barclays has an Overweight rating with a $100 price target.
- Susquehanna has a Positive rating and a $100 price target.
Shares of Nike were last seen at $84.62, with a consensus analyst price target of $85.42 and a 52-week range of $50.35 to $86.04.
24/7 Wall St.Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
