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Home » What Analysts Think of Nike Stock Ahead of Earnings
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What Analysts Think of Nike Stock Ahead of Earnings

adminBy adminJuly 1, 2007No Comments2 Mins Read
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CFOTO / Future Publishing / Getty Images

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Nike is set to report fiscal third-quarter earnings after the market closes Thursday, its second quarter under CEO Elliott Hill.

The apparel and shoe maker is expected to report declining sales and profits, but analysts remain more bullish than bearish on the stock.

Nike’s second-quarter results topped estimates, but analysts warned the company’s turnaround effort could take time.

Nike (NKE) is scheduled to report earnings for the third quarter of fiscal 2025 after the closing bell on Thursday, with analysts more bullish than bearish on the apparel maker’s stock.

Half of the 18 analysts tracked by Visible Alpha rate Nike stock as a “buy,” with seven “hold” and two “sell” ratings. Their average price target of near $82 would represent a premium of about 14% from Friday’s close.

Nike is expected to report $11.02 billion in revenue for the quarter, down from $12.43 billion the same time a year ago. Earnings per share (EPS) is expected to decline year-over-year to 28 cents.

Thursday’s report will mark Nike’s second under new CEO Elliott Hill, who took over the top job in October. In the second quarter, Nike’s results topped estimates, and Hill laid out his vision for improving sales. A number of analysts soon lowered their price targets, however, warning Nike’s turnaround could take longer than expected.

Morgan Stanley analysts said recently they see room for “slight outperformance” in third-quarter EPS and projections for the fourth quarter. However, they still “prefer to stay on the sidelines” on the stock, considering an uncertain growth trajectory amid the company’s strategic revamp.

Nike has increased its marketing and product efforts for women in recent months. The company announced a collaboration with Kim Kardashian’s SKIMS for a new line of products, and aired a Super Bowl commercial highlighting prominent female athletes.

Nike shares have lost about 30% of their value over the past 12 months, closing the week just under $72.

Read the original article on Investopedia



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