Nike reports Q2 earnings December 20

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Nike (NKE) will report its fiscal second-quarter results after the market close December 20. Analysts forecast quarterly earnings of $0.45 per share, down a penny from the same period last year. NKE is up 16.8% on the year.

Technical Analysis

NKE was recently trading at $73.06 down $12.98 from its 12-month high and $12.93 above its 12-month low. InvestorsObserver’s Stock Score Report gives NKE a 85 long-term technical score and an 85 short-term technical score. The stock has recent support above $71 and recent resistance below $78. Of the 24 analysts who cover the stock 13 rate it Strong Buy, 2 rate it Buy, 8 rate it Hold, 1 rate it Sell, and 0 rate it Strong Sell, NKE gets a score of 73 from InvestorsObserver’s Stock Score Report.

Analysts' Thoughts

NKE took a hit following last quarter’s report in which revenues were slightly lower than expected. The stock stabilized and has traded sideways over the last two months but will likely break out of its sideways pattern following this week’s report. Analysts expect an earnings beat for the quarter with a whisper number of $0.50 for the quarter. Foot Locker’s (FL) recent report was very upbeat, mainly because of strong demand for Nike products, which is a strong indicator that Nike likely had a solid quarter as well. Analysts remain upbeat on the stock, and shares could make a strong rally on a better than expected report. The majority of analysts that cover the stock rate it a “strong buy” and have an average price target of $87.29.

About Nike Inc.

Nike is the largest athletic footwear and apparel brand in the world. It designs, develops, and markets athletic apparel, footwear, equipment, and accessories in six major categories: running, basketball, soccer, training, sportswear, and Jordan Brand. Footwear generates about two thirds of its sales. Nike's brands include Nike, Jordan, Converse (casual footwear), and Hurley (action sports). Nike sells products worldwide and outsources its production to more than 400 factories in more than 40 countries. Nike was founded in 1964 is based in Beaverton, Oregon.

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    $-1.02 (-1.16%)
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  • Market Capitalization:
    $135.8 B
  • Day's Range:
    $86.67 - $88.49
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  • 52-week Range:
    $90 - $66.53
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  • Sector:
    Consumer Cyclical
  • Industry:
    Footwear & Accessories
  • Analyst Average Recommendation:
    Moderate Buy

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