Well-known athletic apparel maker Nike NKE is set to report quarterly results on Thursday after the bell. Nike, a Zacks Rank #3 (Hold), has a robust history of exceeding earnings estimates. As NKE stock has rallied sharply off the September lows, is this recognized brand name a buy heading into earnings?
Analysts are expecting NKE to deliver fiscal Q2 earnings of $0.84 per share, which would reflect a -1.18% drop relative to the same quarter in the prior year. Revenues for the quarter of $13.42 billion would mark a 0.78% improvement versus the year-ago period. Nike has beaten earnings estimates in three of the past four quarters, sporting a 27.06% average earnings surprise over that timeframe.
Compelling product innovation and digital leadership have been key drivers for Nike. Still, NKE shares underperformed this year but have rallied sharply over the past three months. Our proprietary Zacks Earnings ESP does not conclusively predict another earnings beat.
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NIKE, Inc. (NKE) : Free Stock Analysis Report
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