$Nike(NKE)$ ππ₯ Swoosh Into NEXT Week: Nike Leads the Earnings Pack! π₯π
Kia ora Tiger traders! π―π
Get ready to lace up your portfolios because Nike ($NKE) is stepping onto the earnings runway this week! If youβre looking for a market mover, keep your eyes on the swoosh brandβs Q1 earnings coming in hot on Tuesday, 1 October after the close. Iβm waiting for a pullback to buy.
π― Nikeβs Current Performance
β’ Current Price: $90.03 (as of 27 September 2024)
β’ Earnings Forecast: Analysts expect $0.51 per share and revenue to come in around $11.65 billion for the quarter. Thatβs a projected 10% sales drop, thanks to challenges in the Chinese market and rising marketing costs for the 2024 Summer Olympics ππ½ .
π Analystsβ Sentiment
β’ π’ Strong Buy: 9
β’ π‘ Hold: 9
β’ π΄ Sell: 0
Despite the lower earnings expectations, Deutsche Bank recently raised their price target from $92 to $95, maintaining their Buy rating .
π₯ Key Drivers to Watch
β’ Restoring the βold guardβ: Nike is getting a much-needed catalyst with the return of 30-year Nike veteran Elliott Hill. This leadership shake-up has renewed confidence in the turnaround story this morning. However, critical hurdles remainβaddressing North America underperformance, fixing the stalled innovation engine, and managing Chinaβs market weakness. One can only hope Hillβs return will restore focus on product innovation, wholesale partnerships, and brand storytelling.
π Other Earnings Highlights This Week
β’ Carnival Corporation (CCL, CUK): On Monday, cruise fans will be watching Carnival closely. Analysts have mixed viewsβwill Carnival ride the post-pandemic wave, or face stormy seas? ππ’
β’ Paychex (PAYX): Payroll specialists report on Tuesday. Stable earnings are expected as businesses continue outsourcing payroll and HR.
β’ Constellation Brands (STZ): Thirsty for earnings? Constellation brings beer and wine into the mix on Thursday. π·πΊ
π§ Hey Tiger Traders:
Iβm waiting for a pullback to buy. Whatβs your strategy around Nikeβs leadership shake-up, and how are you positioning trades this week?
π€ @TigerGPT With the return of Elliott Hill, will we see Nike double down on restoring wholesale channel relationships, especially impacting Foot Locker ($FL), or continue prioritising DTC strategies?
Happy trading ahead.Cheers, BC π
@Tiger_comments @Daily_Discussion @TigerPM @TigerPicks @TigerWire @TigerStars
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$Nike(NKE)$ are my go to workout shoes for running and the gym! πͺ They will do well going forward I reckon, big tick from me. Swoosh! Let's go Nike πββοΈπββοΈπββοΈπββοΈπββοΈπββοΈπββοΈπββοΈπββοΈπββοΈπββοΈππππππππππππππππ
Nike (NKE) - Company Profile
Stock Name: Nike
Stock Code: NKE
Business Type: Nike, Inc. is engaged in the design, development, marketing, and sale of athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under various trademarks such as NIKE, Jumpman, Converse, Chuck Taylor, All Star, and more. It also sells performance equipment and accessories, as well as licenses unaffiliated parties to manufacture and sell apparel and equipment under NIKE-owned trademarks. Nike operates through NIKE-owned retail stores, digital platforms, independent distributors, licensees, and sales representatives.
Established Year: 1964
Address: One Bowerman Drive, Beaverton, Oregon, United States
Telephone: 503 671 6453
Business Operating Income: Not available
Regional Operating Income (2024Q4): NIKE Brand's revenues accounted for $12.15 billion, with a ratio of 96.37%; Converse's revenues accounted for $480 million, with a ratio of 3.81%; Corporate's revenues accounted for -$23 million, with a ratio of -0.18%.
Proportion of Business Revenue (2024Q4): NIKE Brand's revenues accounted for $12.15 billion, with a ratio of 96.37%; Converse's revenues accounted for $480 million, with a ratio of 3.81%; Corporate's revenues accounted for -$23 million, with a ratio of -0.18%.
Currency Type: USD
Total Share Capital (as of September 28, 2024): 1.50 billion shares
Float Share Capital (as of September 28, 2024): 1.18 billion shares
Employee Number: 79,400
Directors and Executives:
John J. Donahoe II: President, Chief Executive Officer, Director (Gender: Male, Age: 64)
Matthew Friend: Executive Vice President, Chief Financial Officer (Gender: Male, Age: 46)
Ann M. Miller: Executive Vice President, Chief Legal Officer (Gender: Female, Age: 50)
Craig Williams: President, Geographies & Marketplace (Gender: Male, Age: 55)
Heidi O'Neill: President, Consumer, Product & Brand (Gender: Female, Age: 59)
Dividend Information:
Dividend Per Share (September 3, 2024): $0.37
Record Date (September 3, 2024): September 3, 2024
Dividend Amount: $2.17 billion (USD)
Total Dividend Amount: $14.74 billion (USD)
Shareholder Information:
Philip H. Knight: Number of shares: 263.09 million, Shareholding ratio: 17.55%, Change in number: -400,000
The Vanguard Group, Inc.: Number of shares: 111.59 million, Shareholding ratio: 7.44%, Change in number: 0
BlackRock, Inc.: Number of shares: 91.53 million, Shareholding ratio: 6.10%, Change in number: 0
State Street Global Advisors, Inc.: Number of shares: 56.05 million, Shareholding ratio: 3.74%, Change in number: 0
Travis A. Knight: Number of shares: 41.31 million, Shareholding ratio: 2.76%, Change in number: 2,437
For more detailed executive information, please use the "Director Information" output.
Recent Relevant News Articles:
Should NIKE Stock be in Your Portfolio Ahead of Q1 Earnings? (Zacks, 2024-09-28)
What You Need to Know Ahead of Nike's Earnings Tuesday (Unknown Source, 2024-09-28)
Q: What is Nike 2025/Q1 Earnings Preview? (Unknown Source, 2024-09-28)
Nike Earnings Loom: Can Bullishness Continue? (Zacks, 2024-09-28)
Please note that the stock price has experienced a significant decline over the past quarter, with the current price below the support level. However, there is a resistance level at $75.45 that could potentially act as a floor to prevent further declines.
Sources:
Company profile on TTM.Financial
Nike Investor Relations
Note: The information provided here is for reference purposes only and should not be considered as investment advice. Always do your own research before making any investment decisions.
Love my Nike's β βοΈ
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