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NKE 10Q expected Wednesday 6/26
Nike $NKE just did it! Its first Golden Cross since January
By: Barchart | December 30, 2023
• Nike $NKE just did it! Its first Golden Cross since January.
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History of Nike's $NKE Q3 Revenue since 1984
By: Savvy Trader | December 22, 2023
• History of Nike's $NKE Q3 Revenue since 1984
1984: $184M
1985: $238M
1986: $183M
1987: $234M
1988: $322M
1989: $446M
1990: $649M
1991: $743M
1992: $876M
1993: $806M
1994: $1.1B
1995: $1.4B
1996: $2.1B
1997: $2.3B
1998: $1.9B
1999: $2.1B
2000: $2.2B
2001: $2.3B
2002: $2.5B
2003: $2.8B
2004: $3.1B
2005: $3.5B
2006: $3.8B
2007: $4.3B
2008: $4.6B
2009: $4.8B
2010: $4.8B
2011: $5.5B
2012: $6B
2013: $6.4B
2014: $7.4B
2015: $7.7B
2016: $8.2B
2017: $8.6B
2018: $9.4B
2019: $10.3B
2020: $11.2B
2021: $11.4B
2022: $13.3B
2023: $13.4B
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Nike $NKE was hammered today for a drop of 11.83%, the stock's 2nd largest decline since 2008
By: Barchart | December 22, 2023
• Nike $NKE was hammered today for a drop of 11.83%, the stock's 2nd largest decline since 2008
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Call Traders View Opportunity in Nike (NKE) Stock's Plummet
By: Schaeffer's Investment Research | December 22, 2023
• The security is eyeing its worst day since September 2022
• Nike will cut hundreds of jobs to save costs
Nike Inc (NYSE:NKE) capped off earnings reports for 2023 with better-than-expected second-quarter profits of $1.03 per share, though revenue missed the mark. The retailer also slashed its annual forecast and noted it will cut hundreds of jobs to save $2 billion in the next three years, as consumers remain cautious and online sales lag, spurring more promotions.
NKE was last seen down 10.3% at $109.87, following a downgrade from TD Cowen to "perform" from "outperform," and a price-target cut to $104 from $129. Another five firms cut their price objectives as well, while two raised theirs. Coming into today, 20 of the 28 analysts covering Nike stock rated it a "buy" or better.
The shares are today gapping below the 40-day moving average for the first time since early October, pivoting lower from their highest level since May as they eye their worst day since September 2022. For 2023, Nike stock now carries a more than 6% deficit.
Options traders are viewing this pullback as an opportunity. So far today, 92,000 calls and 75,000 puts have crossed the tape, volume that 21 times what is typically seen at this point. The weekly 12/22 110-strike call is the most popular contract, with positions being opened there and expiring at the close.
Nike stock is no stranger to bullish activity. The security's Schaeffer’s open interest ratio (SOIR) sits in the 2nd percentile of its annual range, pointing to a particularly strong call bias amongst short-term options traders.
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Nike cut at CFRA Research as 'company faces competition'
By: Investing | December 22, 2023
Nike (NYSE:NKE) was cut to Sell from Hold at CFRA Research on Friday, following the company's latest earnings release, which resulted in its shares tumbling over 11%.
The firm maintained a $91 per share price target on the stock, and its FY 24 and FY 25 EPS estimates of $3.50 and $3.75, respectively.
"NKE posts normalized Q2 EPS of $1.03 vs. $0.85, $0.18 above estimates on revenues of $13.39B vs. $13.32B and $39M below estimates," explained CFRA analysts. "Nike Direct sales increased 6% with Nike Digital increasing 4%. By region, North America revenues declined 4% Y/Y, Europe increased 2%, Greater China improved 4%, and APAC and Latin America increased 13%."
Nike's gross margin expanded 170 bps year-over-year to 44.6%, driven by higher strategic pricing and lower freight costs.
"Although Nike maintains a fortress balance sheet with significant capital returns, we believe the multiple will trend back down to pre-pandemic levels as the company faces competition from brands like HOKA and On while it looks for new growth drivers and focuses on cutting costs," added CFRA analysts.
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Last Ex-Dividend Date Dec 1, 2023 - Payment date Jan 2, 2024
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when is the divi date? One heck of an AH drop!
Nike $NKE getting absolutely punished in after hours trading
By: Barchart | December 21, 2023
• Nike $NKE getting absolutely punished in after hours trading
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very NICE
Nike earnings beat by $0.19, revenue topped estimates
By: Investing | December 21, 2023
Nike (NYSE: NKE) reported second quarter EPS of $1.03, $0.19 better than the analyst estimate of $0.84. Revenue for the quarter came in at $13.4B versus the consensus estimate of $13.39B.
Nike's stock price closed at $122.46. It is up 34.79% in the last 3 months and up 4.93% in the last 12 months.
Nike saw 2 positive EPS revisions and 19 negative EPS revisions in the last 90 days. See Nike's stock price’s past reactions to earnings here.
According to InvestingPro, Nike's Financial Health score is "good performance".
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Nike $NKE 6% implied move after earnings tonight. 9 EPS upgrades lately
By: Mike Zaccardi | December 21, 2023
• $NKE 6% implied move after earnings tonight. 9 EPS upgrades lately
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Today Nike Inc. (NKE) is the best performer in the DJIA
By: Thom Hartle | December 19, 2023
• Today (8:32 CST), the best performer in the DJIA is NIKE Inc ClsB. NKE.
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BofA sees Nike (NKE) reporting 2Q and 3Q sales miss
By: Investing | December 15, 2023
BofA raised its Nike (NYSE:NKE) price target to $130 from $110 in a note Friday. However, the firm said it is modelling a consensus sales miss for the sportswear giant in both 2Q and 3Q24.
While the firm expects Neutral-rated Nike to beat consensus EPS expectations, they note that with the stock trading at 32x P/E, the key debate has shifted to the sales turnaround.
In the firm's view, this quarter won’t answer the sales questions, nor will 3Q guidance. "The full year relies on a 4Q sales acceleration once 2023’s excess inventory sell-in is lapped," analysts said.
"We will look for signs of accelerating DTC (direct-to-consumer) trends and successful innovation as proof points for this ramp," the analysts added.
The investment bank believes that improving data points on China, a better narrative on the promotional environment, and more details about product innovation are needed to spark multiple expansion.
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Today NIKE Inc. (NKE) is the best performer in the DJIA
By: Thom Hartle | December 11, 2023
• Today (8:32 CST), the best performer in the DJIA is NIKE Inc ClsB. NKE.
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Nike is an 'attractive margin recovery story' says Citi, upgrades stock to Buy
By: Investing | December 11, 2023
Citi analysts upgraded their recommendation on Nike (NYSE:NKE) stock to Buy from Neutral with a price target raised by $35 to $135 per share.
The athletic apparel retailer is “an attractive margin recovery story in a choppy macro,” analysts wrote in a note.
Citi's assessment of Nike highlights persisting top-line challenges while expressing increased optimism about the company's capacity to safeguard earnings per share in fiscal years 2024 and 2025 amid a potentially uneven economic backdrop.
The optimism is rooted in several factors:
1) An anticipated gross margin recovery from the second quarter of fiscal year 2024 through fiscal year 2025;
2) The introduction of new innovations in calendar year 2024, strategically timed ahead of the Paris Olympics; and
3) Nike's resilient position in China, despite ongoing macroeconomic volatility.
“Given the difficult comparisons in the NAM wholesale channel, challenging macro, challenging trends from NKE’s key retail partners in NAM and expected strong 2H sales recovery embedded in current guidance, we believe it is likely that mgmt will take a more conservative view toward 2H sales (and lower F24 sales guidance from +MSD to +LSD),” analysts said.
“However, we believe stronger GM/tight expense control will protect from an EPS reduction.”
Nike stock rose 1.8% while being down 1% year-to-date based on Friday’s closing price.
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Today Nike Inc. (NKE) is the best performer in the DJIA
By: Thom Hartle | November 29, 2023
• Today (8:32 CST), the best performer in the DJIA is NIKE Inc ClsB. NKE.
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State Board of Administration of Florida Retirement System Has $142.42 Million Stock Holdings in NIKE, Inc. (NKE)
By: MarketBeat | November 25, 2023
• State Board of Administration of Florida Retirement System reduced its stake in NIKE, Inc. (NYSE:NKE) by 5.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,290,344 shares of the footwear maker's stock after selling 74,239 shares during the period. State Board of Administration of Florida Retirement System owned 0.08% of NIKE worth $142,415,000 at the end of the most recent quarter...
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Nike $NKE Nice move up, has been strong since the last report. 110 next big area to watch
By: Options Mike | November 5, 2023
• $NKE Nice move up, has been strong since the last report.
110 next big area to watch.
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Nike Inc. $NKE Still impressive chart. Like it off a reconnect with the 8D if it holds
By: Options Mike | October 22, 2023
• $NKE Still impressive chart.
Like it off a reconnect with the 8D if it holds.
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Nike $NKE is among the most overbought S&P 500 stocks according to FactSet
By: Barchart | October 21, 2023
• Nike $NKE is among the most overbought S&P 500 stocks according to FactSet.
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Nike Inc. $NKE Held majority of the earnings gap and took out the high now, room to grind to 103 next
By: Options Mike | October 15, 2023
• $NKE Held majority of the earnings gap and took out the high now, room to grind to 103 next.
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Nike Is Getting Fit...And May Not Trade Under $100 For Long https://www.marketbeat.com/originals/nike-is-getting-fitand-may-not-trade-under-100-for-long/
Nike $NKE Former Intel CEO Robert Swan bought over $1.2 Million worth of Nike shares last week
By: TrendSpider | October 9, 2023
• $NKE Former Intel CEO Robert Swan bought over $1.2M worth of Nike shares last week
The stock is down nearly -20% YTD.
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Nike Inc. $NKE good report and guidance. Costs back under control and China sales back up.. Gap below to hold, 50D next target
By: Options Mike | September 30, 2023
• $NKE good report and guidance. Costs back under control and China sales back up..
Gap below to hold, 50D next target.
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!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! WOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! nice recovery!
Today Nike Inc ClsB. (NKE) is the best performer in the DJIA
By: Thom Hartle | September 29, 2023
• Today (8:34 CST), the best performer in the DJIA is NIKE Inc ClsB. NKE.
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Nike shares gain 8% on big EPS upside; stock seen as an 'undervalued outperfomer'
By: Investing.com | September 29, 2023
Nike reported much better than expected fiscal first-quarter earnings that overshadowed a miss on revenue, pressured by weakness in North America and an economic slowdown in its key China market.
Nike Inc (NYSE:NKE) rose 8% in premarket Friday trade following the report.
Nike reported EPS of $0.94 on revenue of $12.94 billion. Analysts polled by Investing.com anticipated EPS of $0.75 on revenue of $13.02B.
Nike brand digital sales increased 2% but growth in EMEA, Greater China, and APLA was partially offset by a decline in North America.
Sales in North America fell 2%, while in China, a key market for the company, sales rose 5% to $1.74B, though was short of StreetAccount estimates of $1.84 billion.
Gross margin decreased 10 basis points to 44.2%, pressured by "higher product costs and unfavorable changes in net foreign currency exchange rates, largely offset by strategic pricing action," the company said. Inventory levels decreased by 10% year-over-year.
The company maintained its FY24 guidance.
Bernstein analysts said Nike delivered "a nice beat."
Nike used "the ~20c EPS beat to de-risk Q2 and cushion H2 - the best possible outcome we could have expected from this print. The combination of decelerating macro and debates on DTC and Running will keep an overhang over the stock ST - but we remain bullish on the stock LT as an undervalued outperformer, with EPS growth forecasts outperforming peers and valuation at a 5-yr low," they wrote in a note.
BofA analysts continue to see "a balanced risk/reward as an improving gross margin trajectory is offset by a challenging sales environment (particularly in wholesale).
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Nike (NKE) earnings beat by $0.19, revenue fell short of estimates
By: Investing.com | September 28, 2023
Nike (NYSE: NKE) reported first quarter EPS of $0.94, $0.19 better than the analyst estimate of $0.75. Revenue for the quarter came in at $12.94B versus the consensus estimate of $13.02B.
Nike's stock price closed at $89.63. It is down -18.79% in the last 3 months and down -5.98% in the last 12 months.
Nike saw 0 positive EPS revisions and 12 negative EPS revisions in the last 90 days. See Nike's stock price’s past reactions to earnings here.
According to InvestingPro, Nike's Financial Health score is "good performance".
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Nike’s $NKE revenue for the quarter ended August 31st since 2007
By: Savvy Trader | September 28, 2023
• Nike’s $NKE revenue for the quarter ended August 31st since 2007
2007 $4.7B
2008 $5.4B
2009 $4.8B
2010 $5.2B
2011 $6.1B
2012 $6.5B
2013 $7B
2014 $8B
2015 $8.4B
2016 $9.1B
2017 $9.1B
2018 $9.9B
2019 $10.7B
2020 $10.6B
2021 $12.3B
2022 $12.7B
2023 Find out after the close
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Earnings Preview: Nike Inc. (NYSE: NKE)
By: 24/7 Wall St. | September 27, 2023
• Here is a look at three companies set to release results late Wednesday or early Thursday.
Nike
Over the past 12 months, shares of athletic gear maker Nike Inc. (NYSE: NKE) have fallen by about 6%, including a decline of about 23% so far in 2023. The Dow Jones industrial average component needs to show significant recovery in China and some long-anticipated brand strength. The company’s own forecasts call for growth, even if only modestly, in the first quarter of the new fiscal year. Nike reports results later on Thursday.
Of 36 brokerages covering the stock, 23 have a Buy or Strong Buy rating. Ten more have Hold ratings. At a price of around $90.00 a share, the upside potential based on a median price target of $125.00 is about 39%. At the high price target of around $152.00, the implied upside is almost 69%.
For the company’s first quarter of fiscal 2024, revenue is expected to come in at $13 billion, up 1.4% sequentially and 2.4% higher year over year. Adjusted EPS are forecast at $0.76, up 14.9% sequentially and by 10.6% year over year. For the full fiscal year ending next May, estimates call for EPS of $3.68, up 13.9%, on sales of $53.45 billion, up about 4.4%.
Nike stock trades at 24.6 times expected 2024 EPS, 21.0 times estimated 2025 earnings of $4.30 and 18.2 times estimated 2026 earnings of $4.97 per share. The 52-week range is $82.22 to $131.31. Nike pays an annual dividend of $1.36 (yield of 1.51%). Total shareholder return for the past year was negative 4.90%.
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Nike upgraded at CFRA as pullback makes shares more attractive
By: Investing.com | September 27, 2023
CFRA analysts upgraded Nike (NYSE:NKE) shares to Hold from Sell while maintaining a 12-month price target of $88.
The analysts noted that Nike’s current valuation is slightly below the company's 10-year average forward P/E multiple of 29.4x but remains close to its three-year average prior to the pandemic.
Since August 10, Nike shares are down about 20%.
“We continue to believe the Nike brand is one of the most iconic brands around the world and deserves a premium valuation compared to many of its peers due to its strong balance sheet, large share buyback program, and consistent execution by management,” the analysts wrote in a client note.
“We expect the next 12 months to be tough for NKE in the U.S. as the low- to middle-income consumer's savings is back below pre-pandemic levels, but believe NKE can achieve our EPS estimate and now see value emerging in shares.”
Nike stock closed at $90.17 per share on Tuesday. The stock is up 0.4% in early Wednesday trade.
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RSI on Nike $NKE is at its most oversold level in 3 years. Wonder if there will be some relief coming soon? Previous cases of RSI at these levels coincided with a bounce/rally.
By: Barchart | September 25, 2023
• RSI on Nike $NKE is at its most oversold level in 3 years. Wonder if there will be some relief coming soon? Previous cases of RSI at these levels coincided with a bounce/rally.
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