Nike (NKE) Stock Moves -0.95%: What You Should Know

In the latest market close, Nike (NKE) reached $76.50, with a -0.95% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 1.71%. Elsewhere, the Dow lost 1.7%, while the tech-heavy Nasdaq lost 2.2%.Heading into today, shares of the athletic apparel maker had gained 3.96% over the past month, lagging the Consumer Discretionary sector's gain of 13.7% and outpacing the S&P 500's gain of 2.2% in that time.The investment community will be paying close attention to the earnings performance of Nike in its upcoming release. The company is predicted to post an EPS of $0.28, indicating a 71.43% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.15 billion, down 10.31% from the year-ago period.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.05 per share and a revenue of $46.32 billion, indicating changes of -48.1% and -9.81%, respectively, from the former year.Investors might also notice recent changes to analyst estimates for Nike. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.32% decrease. Right now, Nike possesses a Zacks Rank of #4 (Sell).Looking at valuation, Nike is presently trading at a Forward P/E ratio of 37.73. Its industry sports an average Forward P/E of 13.8, so one might conclude that Nike is trading at a premium comparatively.It's also important to note that NKE currently trades at a PEG ratio of 2.52. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Shoes and Retail Apparel industry currently had an average PEG ratio of 1.82 as of yesterday's close.The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 218, finds itself in the bottom 14% echelons of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NIKE, Inc. (NKE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks