Nike, Inc. is an iconic retailer of athletic footwear and apparel and is a component of the Dow Jones Industrial Average. Nike is the first Dow stock to report earnings for its latest quarter, but its quarter ended in February. The company is set to report results after the closing bell on Thursday, March 22.
The stock closed Tuesday, March 20, at $66.80, up 6.8% year to date and up 7.6% from its Feb. 6 low of $62.09. The stock set its all-time intraday high of $70.25 on Feb. 27. However, Nike shares suffered a daily “key reversal” on Feb. 27 and ended that week with a weekly “key reversal.”
Analysts expect Nike to post earnings per share of 52 to 58 cents when the company reports results on Thursday. Stifel analysts note that Nike’s organizational changes, North America turnaround and continued international sales momentum justify an $80 price target. The consensus price target is $69 based on the views of around 37 analysts, according to FactSet. (See also: Jayme Martin Second Nike Executive to Exit This Week.)
Athletic footwear and apparel giant Nike reports earnings with an elevated P/E ratio of 28.45 and a meager dividend yield of 1.22%. …read more
Read more here: Nike Needs to Swoosh ‘Key Reversals’ on Earnings