Nike Inc. (NYSE: NKE) is scheduled to release its fiscal first-quarter financial results after the markets close on Tuesday. The consensus estimates from Thomson Reuters are calling for $0.63 in EPS and $9.94 billion in revenue. The same period of last year reportedly had EPS of $0.57 and $9.07 billion in revenue.
This apparel company has faced some tough criticism and reactionary setbacks to its reputation when it initially announced former quarterback Colin Kaepernick as the face of its new “Just Do It” campaign. However, a new report from Morning Consult found that the apparel company’s standing has now rebounded among its core demographics.
Following the initial Kaepernick announcement, Nike’s net favorability dropped 34 points in two days, from a net favorable rating of +69 on September 3 to a +35 by September 5. Now, Nike is slowly bouncing back, with its current net favorability standing at +39 as of Tuesday, an increase from +28 on September 12, its lowest mark since Morning Consult began tracking the company in October 2016.
Separately, “purchasing consideration” is seeing a stronger return to its pre-announcement numbers. Currently, the number stands at 62%, down just seven points from its pre-campaign level of 69% on September 3.
Overall Nike has outperformed the broad markets, with the stock up 58% in the past 52 weeks. In just 2018 alone, the stock is up closer to 35%.
A few analysts weighed in on Nike ahead of the report:
- Needham reiterated a Hold rating.
- Credit Suisse reiterated a Buy rating and a $90 target.
- Stifel has a Buy rating with a $96 price target.
- Pivotal Research has a Hold rating and an $85 target.
- Merrill Lynch has a Sell rating with a $50 target price.
- Barclays has an Overweight rating with a $100 price target.
- Susquehanna has a Positive rating and a $100 price target.
Shares of Nike were last seen at $84.62, with a consensus analyst price target of $85.42 and a 52-week range of $50.35 to $86.04.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
