Nike (NKE, $105.82) announces complete exit from Russia
Nike announced that it making a full exit from Russia, following three months of suspending its operations in the country.
In March, the sneakers and sports apparel company had temporarily suspend operations at all its stores in Russia, in response to the latter’s war on Ukraine. On Thursday, it confirmed its complete exit from there.
Nike’s revenue from Ukraine and Russia combined is less than 1% of the company’s total revenue.
“NIKE has made the decision to leave the Russian marketplace. Our priority is to ensure we are fully supporting our employees while we responsibly scale down our operations over the coming months,” the company mentioned in an emailed statement (according to a CNBC report).
NKE in upward trend: price may jump up because it broke its lower Bollinger Band on March 22, 2024
NKE may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 35 cases where NKE's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where NKE's RSI Oscillator exited the oversold zone, of 34 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 15, 2024. You may want to consider a long position or call options on NKE as a result. In of 84 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for NKE just turned positive on April 12, 2024. Looking at past instances where NKE's MACD turned positive, the stock continued to rise in of 45 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where NKE advanced for three days, in of 307 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where NKE declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for NKE entered a downward trend on April 18, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: NKE's P/B Ratio (9.862) is slightly higher than the industry average of (3.484). P/E Ratio (27.224) is within average values for comparable stocks, (28.646). Projected Growth (PEG Ratio) (2.032) is also within normal values, averaging (1.937). Dividend Yield (0.015) settles around the average of (0.048) among similar stocks. P/S Ratio (2.762) is also within normal values, averaging (1.925).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. NKE’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. NKE’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 82, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a maker of athletic footwear and apparel
Industry ApparelFootwear