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Mar 24, 2021

Nike (NKE, $138.99) beats Q3 2021 earnings expectations; but sales hurt by pandemic

Sneaker giant Nike reported third-quarter earnings that topped analysts’ expectations. However,  sales was hurt by port congestion in the U.S. and store closures in Europe.

Adjusted earnings for the quarter came in at 90 cents per share, compared to 76 cents expected by analysts polled by Refinitiv. Revenue increased to $10.36 billion from the year-ago quarter’s $10.1 billion; analysts forecast $11.02 billion.

Revenue in North America fell -10% year over year, hurt by shipment delays.

In Europe, Middle East and Africa region, sales at its physical retail stores decreased due to pandemic-related restrictions. However, online sales in those markets grew 60% in the latest period. According to Nike, about 60% of its stores in the region are open today, while some operate on reduced hours.

In Greater China, sales rose +51%. This is probably due to the region’s relatively quick recovery path from the pandemic.

For fiscal 2021, Nike projects revenue to rise by a low-to-mid-teens percentage from the prior year. Analysts had been expecting revenue growth of 15.9%, according to Refinitiv.

Nike expects fourth-quarter sales to grow +75% year over year, compared to analysts forecast of +64.3%.

 

 

Related Ticker: NKE

NKE in -2.59% downward trend, sliding for three consecutive days on February 20, 2024

Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where NKE declined for three days, in of 295 cases, the price declined further within the following month. The odds of a continued downward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 64 cases where NKE's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

The Momentum Indicator moved below the 0 level on February 27, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on NKE as a result. In of 85 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

NKE broke above its upper Bollinger Band on February 12, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

The Aroon Indicator for NKE entered a downward trend on February 09, 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.

Bullish Trend Analysis

The Moving Average Convergence Divergence (MACD) for NKE just turned positive on January 26, 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 313 cases, the price rose further within the following month. The odds of a continued upward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

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 (11.173) is slightly higher than the industry average of (3.687). P/E Ratio (30.423) is within average values for comparable stocks, (28.816). Projected Growth (PEG Ratio) (1.767) is also within normal values, averaging (1.749). Dividend Yield (0.013) settles around the average of (0.039) among similar stocks. P/S Ratio (3.136) is also within normal values, averaging (1.967).

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 PE Growth Rating for this company is (best 1 - 100 worst), pointing to 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.

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 79, placing this stock better than average.

Notable companies

The most notable companies in this group are Nike (NYSE:NKE), Skechers USA (NYSE:SKX), VF Corp (NYSE:VFC), G-III Apparel Group Ltd (NASDAQ:GIII), Canada Goose Holdings (NYSE:GOOS), Lakeland Industries (NASDAQ:LAKE).

Industry description

Apparel/footwear might be slightly more ‘cyclical’ in the largely non-cyclical category of non-durables. While digital giants like Amazon have been rapidly expanding their presence, traditional clothing/footwear retailers have also been bulking up their online presence in recent years, to milk the burgeoning trend of online shopping among consumers across the globe. The apparel and footwear retail market was valued at around $ 360 billion in 2018, and this figure was expected to reach about $386 billion by 2020 (according to a Statista report). NIKE, Inc, V.F. Corporation and Under Armour, Inc. are some of the companies with the largest U.S. stock market caps in this segment.

Market Cap

The average market capitalization across the Apparel/Footwear Industry is 6.03B. The market cap for tickers in the group ranges from 1.66K to 158.1B. NKE holds the highest valuation in this group at 158.1B. The lowest valued company is SQBGQ at 1.66K.

High and low price notable news

The average weekly price growth across all stocks in the Apparel/Footwear Industry was 1%. For the same Industry, the average monthly price growth was 6%, and the average quarterly price growth was 1%. DLA experienced the highest price growth at 28%, while GRNL experienced the biggest fall at -38%.

Volume

The average weekly volume growth across all stocks in the Apparel/Footwear Industry was -64%. For the same stocks of the Industry, the average monthly volume growth was -61% and the average quarterly volume growth was -54%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 51
P/E Growth Rating: 60
Price Growth Rating: 49
SMR Rating: 63
Profit Risk Rating: 79
Seasonality Score: -37 (-100 ... +100)
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a maker of athletic footwear and apparel

Industry ApparelFootwear

Profile
Fundamentals
Details
Industry
Apparel Or Footwear
Address
One Bowerman Drive
Phone
+1 503 671-6453
Employees
83700
Web
https://www.nike.com
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NKE and

Correlation & Price change

A.I.dvisor indicates that over the last year, NKE has been loosely correlated with UA. These tickers have moved in lockstep 57% of the time. This A.I.-generated data suggests there is some statistical probability that if NKE jumps, then UA could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To NKE
1D Price
Change %
NKE100%
-0.77%
UA - NKE
57%
Loosely correlated
+1.47%
UAA - NKE
54%
Loosely correlated
+1.24%
RL - NKE
50%
Loosely correlated
+0.55%
COLM - NKE
48%
Loosely correlated
N/A
VFC - NKE
46%
Loosely correlated
+0.65%
More
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