Nike, Inc. (NYSE:NKE) shares, rose in value, with the stock price down by -0.26% to the previous day’s close as strong demand from buyers drove the stock to $88.84.
Actively observing the price movement in the last trading, the stock closed the session at $89.07. The value of beta (5-year monthly) was 1.10 whereas the PE ratio was 26.13 over 12-month period. Referring to stock’s 52-week performance, its high was $128.68, and the low was $88.66. On the whole, NKE has fluctuated by -9.00% over the past month.
With the market capitalization of Nike, Inc. currently standing at about $134.61 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 21, 2024. The company’s Forward Dividend Ratio is 1.42, with its dividend yield at 1.60%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.85, which is expected to increase to $0.97 for fiscal year $3.58 and then to about $3.97 by fiscal year 2025. Data indicates that the EPS growth is expected to be 10.80% in 2025, while the next year’s EPS growth is forecast to be 10.90%.
Analysts have estimated the company’s revenue for the quarter at $12.88 billion, with a low estimate of $12.53 billion and a high estimate of $13 billion. According to the average forecast, sales growth in current quarter could jump up 0.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $51.7 billion, representing an increase of 0.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NKE’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 1.95, with the price of NKE currently trading nearly -7.98% and -11.59% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 25.81, while the 7-day volatility ratio is showing 1.83% which for the 30-day chart, stands at 1.87%. Furthermore, Nike, Inc. (NKE)’s beta value is 1.09, and its average true range (ATR) is 2.12.
A comparison of Nike, Inc. (NKE) with its peers suggests the former has fared considerably weaker in the market. NKE showed an intraday change of -0.26% in last session, and over the past year, it shrunk by -28.18%%.
Data on historical trading for Nike, Inc. (NYSE:NKE) indicates that the trading volumes over the past 10 days have averaged 14.92 million and over the past 3 months, they’ve averaged 9.47 million. According to company’s latest data on outstanding shares, there are 1.23 billion shares outstanding.
Nearly 22.37% of Nike, Inc.’s shares belong to company insiders and institutional investors own 67.83% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 17.26 million shares as on Mar 15, 2024, resulting in a short ratio of 2.01. According to the data, the short interest in Nike, Inc. (NKE) stood at 1.14% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 15.53 million. The stock has fallen by -18.17% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NKE stock heading into the next quarter.
