What to Expect From Nike Earnings

Nike Inc. (NYSE: NKE) is scheduled to report its fiscal first-quarter financial results after the markets close on Thursday. The consensus estimates from Thomson Reuters call for $1.19 in earnings per share (EPS) on $8.22 billion in revenue. The same period from the previous year had $1.09 in EPS on $7.98 billion in revenue.

This top consumer discretionary stock had an outstanding summer. It is up a sizzling 21% year to date and over 45% within the past 52 weeks.

Nike is a worldwide athletic giant and posted very strong fiscal fourth-quarter earnings in June. The company also has outstanding potential upside from a turnaround in its China business, improvements in gross margins and continued innovation-driven market share gains in both basketball and running footwear. With one of the most recognizable brands in the world, long-term investors may do very well adding shares here, despite the big move up in the stock this year.

This company is benefiting from consumer preferences for “athleisure.” With the company’s extensive product line and recognizable worldwide branding, the stock continues to roll on year-after-year.

A few analysts weighed in on Nike ahead of its earnings:

• B. Riley reiterated a Buy rating with a $126 price target.
• Canaccord Genuity has a Hold rating and raised its price target to $109 from $104.
• Telsey Advisory Group has an Outperform rating and raised its price target to $128 from $122.
• Cowen reiterated a Buy rating and raised its price target to $130 from $125.
• Sterne Agee CRT reiterated a Hold rating.
• Deutsche Bank has a Buy rating and raised its price target to $125 from $120.

Shares of Nike were down 0.4% to $115.54 on Wednesday afternoon. The stock has a consensus analyst price target of $122.48 and a 52-week trading range of $79.27 to $117.72.

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