This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive
compensation for actions taken through them.
Nike Inc. (NYSE: NKE) is scheduled to report its fiscal first-quarter financial results after the markets close on Thursday. The consensus estimates from Thomson Reuters call for $1.19 in earnings per share (EPS) on $8.22 billion in revenue. The same period from the previous year had $1.09 in EPS on $7.98 billion in revenue.
This top consumer discretionary stock had an outstanding summer. It is up a sizzling 21% year to date and over 45% within the past 52 weeks.
Nike is a worldwide athletic giant and posted very strong fiscal fourth-quarter earnings in June. The company also has outstanding potential upside from a turnaround in its China business, improvements in gross margins and continued innovation-driven market share gains in both basketball and running footwear. With one of the most recognizable brands in the world, long-term investors may do very well adding shares here, despite the big move up in the stock this year.
This company is benefiting from consumer preferences for “athleisure.” With the company’s extensive product line and recognizable worldwide branding, the stock continues to roll on year-after-year.
A few analysts weighed in on Nike ahead of its earnings:
- B. Riley reiterated a Buy rating with a $126 price target.
- Canaccord Genuity has a Hold rating and raised its price target to $109 from $104.
- Telsey Advisory Group has an Outperform rating and raised its price target to $128 from $122.
- Cowen reiterated a Buy rating and raised its price target to $130 from $125.
- Sterne Agee CRT reiterated a Hold rating.
- Deutsche Bank has a Buy rating and raised its price target to $125 from $120.
Shares of Nike were down 0.4% to $115.54 on Wednesday afternoon. The stock has a consensus analyst price target of $122.48 and a 52-week trading range of $79.27 to $117.72.
ALSO READ: 9 Analyst Stock Picks Under $10 With Huge Upside Calls
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.