What's Happening with NKE
Athletic goods and apparel giant Nike (NKE) reports fiscal second-quarter numbers December 19. The company will announce its quarterly numbers after the market close with the consensus calling for earnings of $0.57 per share, up from $0.52 during the same period last year. NKE shares are up 32% on the year.
Technical Analysis
NKE was recently trading at $97.91 down $0.27from its 12-month high and $31.38 above its 12-month low. InvestorsObserver's Stock Score Report gives NKE a 22 long-term technical score and an 11 short-term technical score. The stock has recent support above $92.5 and recent resistance below $98. Of the 22 analysts who cover the stock 12 rate it Strong Buy, 3 rate it Buy, 6 rate it Hold, 0 rate it Sell, and 1 rate it Strong Sell, NKE gets a score of 35 from InvestorsObserver's Stock Score Report.
Analysts' Thoughts
Despite a mixed quarterly report in June, NKE has been a strong performer in 2019, and if the company is able to post a strong set of quarterly numbers shares should build on their recent gains. Nike report better than expected top and bottom line numbers last quarter and the street expects another positive earnings surprise this week with a whisper number of $0.62. NKE is trading just pennies below its all-time high, and the stock has a P/E of 36. With shares priced for perfection, the stock can not afford any bad news in its quarterly report. Nike has shown good earnings growth of 8.4% per annum over the last five years, and looking ahead analysts expect even stronger growth, with forecast earnings growth of 16.8% annually for the next five years. The stock's valuation is a bit high, but with such strong growth estimates, there is additional upside as long as Nike is able to keep pace with estimates. Analysts see upside in the stock with an average price target of $104.10.