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- 1 Nike Inc. will announce earnings on June 29; NKE Stock is expected to rally.
- 2 The last positive earnings failed to recuperate stock price.
Nike Inc. (NKE Stock) will release earnings on June 29, 2023, with an estimated revenue of $12.583 Billion. Can it fuel a rally? The United States earnings scenario for the second quarter looks a bit off; analysts expect the earrings of the S & P500 company to correct by 5.6% in Q2. At the same time, their Q4 2022 earnings dropped by 3.2%.
Nike Inc. (NKE Stock) – Financial Analysis & Earnings Expectation
The share price is expected to swell with the earnings report scheduled on June 29. Moreover, NYSE: NKE has been one of the frequently searched stocks on Zacks.com and has performed reasonably well in the past. Along with Nike, chip maker Micron Technology (NASDAQ: MU), and Nano Dimension Ltd. (NASDAQ: NNDM) will report earnings on June 28 and 29, respectively.
However, the share prices for Nike are down by 3.93% in the last seven days, and it is expected to present Earnings Per Share (EPS) of $0.67. This would bring the year-over-year (YoY) change to -25.6%.
At press time, NKE’s share price is trading at $109.52 with a drop of 0.85%; previous close and open were at $110.46 and $107.75, respectively. With an average volume of 6.77 Million shares, the market cap stays strong at $ $168.331 Billion. The trailing twelve-month (ttm) price-to-earnings ratio comes at 30.56, while the EPS (ttm) is $3.47.
Analysts placed a 2.57 rating for moderate buy, expecting the value to rise, and put the price target at $132.10 with an upside of 20.6%. The 52-week change in the share price comes with a slight drop of 0.89%, which means that the price is slowly returning to the back for a northbound hike.
Considering the data from February 2023, revenue swelled 13.97% to $12.39 Billion, while the ttm revenue stands at $50.63 Billion. The revenue per share for a similar time frame was reported at $32.44, and the quarterly revenue growth jumped by 14.00%. Zacks Consensus estimates the revenue to increase by 8.55% to $11.41 Billion.
The sales estimate for Nike the current quarter is expected to swell YoY by 2.8% to $12.57 Billion. Also, the estimated sales for the present and the next fiscal year is expected to rise by 9.1% to $50.97 Billion and 6.9% to $64.46 Billion, respectively.
The profit margin swelled by 10.02% and the operating margin by 37.34%. The operating expenses jumped by 15.15% to $3.96 Billion, while the gross profit ttm is said to be $21.48 Billion. Total cash in hand at the end of the most recent quarter (mrq) is $10.8 Billion, while the total debt in a similar time-lapse is $12.57 Billion.
Nike Inc. (NKE Stock) – Candle Exploration
With earnings right around the corner, the current price noticeably below the EMA, and the neutral RSI value of 43.76, further momentum depends upon the report. The price could break the crucial resistance and venture above EMA if earnings are positive. Then, it would have the opportunity to hike above R1.
If the earnings were dissatisfactory, the price could be below S1 and stay there for a while. Also, the current civil war-like scenario brewing in Russia could hamper even a favorable report.
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The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
