) the athletic apparel and footwear giant whose stock has fallen about 50% from its late November, 2021, highs of $179, reports their fiscal Q4 ’24 earnings next Thursday night, June 27th, after the market close.Sell-side consensus is expecting $0.84 in earnings per share, and $1.54 billion in operating income on $12.85 billion in revenue, for expected y-o-y growth of 27%, 26% and 0% or flat revenue growth.
It’s not the end of the world, but it could be indicative of the “stale brand” and the stale footwear that Nike CEO John Donahoe wants to invigorate.What’s intriguing with Nike’s monthly chart, is that the stock will clear congestion if it can trade up and through $100, and then has room to run until the 50-month moving average or roughly $120 – $121 per share.
Nike’s fiscal ’25 guide will be critical on next Thursday night’s conference call. For fiscal ’25, the current consensus is expecting $3.88 in EPS on $52.1 billion in revenue. Again, Nike should be generating better than 1% revenue growth. Still, China is important to Nike. Keeping an eye on China’s economic data, I don’t think that much has changed for China growth prospects the last few years.
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