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Nike's strategic pivot under new CEO Elliott Hill is in the spotlight as the company prepares to report its fiscal fourth-quarter earnings. Despite a challenging year marked by a 9% drop in third-quarter revenues to $11.3 billion, Nike managed to surpass earnings expectations with an EPS of $0.54, significantly above the forecasted $0.30. As the market anticipates a continued decline in earnings, with the EPS estimate set at $0.12 and revenue expected to reach $10.70 billion, the whisper number of $0.15 suggests a cautious optimism among investors. This sentiment is likely fueled by Hill's efforts to streamline operations and refocus the brand's direct-to-consumer strategy, despite the 12% decline in Nike Direct revenues last quarter. With a market cap of over $91 billion, Nike's ability to navigate these headwinds and meet or exceed the whisper number could signal a successful turnaround, albeit one that may require more time to fully materialize.
Nike, Inc. is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area. It is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment.
Website: https://www.nike.com
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