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What's in Store for Nike This Quarter? A 1Q18 Earnings Preview

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What's in Store for Nike This Quarter? A 1Q18 Earnings Preview PART 1 OF 3

What’s in Store for Nike This Quarter? A 1Q18 Earnings Preview

Nike’s 1Q18 results preview

Oregon-based Nike (NKE) is expected to release its results for 1Q18 after the market closes on September 26, 2017.

The company’s EPS (earnings per share) is expected to fall 34.0% YoY (year-over-year) to $0.48 on total sales of $9.1 billion (+0.30% YoY).

What&#8217;s in Store for Nike This Quarter? A 1Q18 Earnings Preview

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During fiscal 2017, the company delivered an earnings beat in all four quarters but missed the top-line estimates in the third quarter.

In this three-part series, we’ll look at Nike’s recent financial results and expectations for the upcoming quarter.

About Nike

Founded in 1968, Nike (NKE) is the world’s largest athletic footwear and apparel company. It derives more than 55.0% of its revenue from international markets. Footwear sales account for ~60.0% of its sales.

The company has a market capitalization of $87.3 billion as of September 22, 2017, and forms part of the S&P 500 Index and the 30-stock Dow Jones Industrial Average Index.

It constitutes 3.1% of the US Consumer Goods (IYK) and 2.8% of the Consumer Discretionary Select Sector SPDR ETF (XLY).

Valuations update and stock recommendations

Nike is currently trading at a one-year forward PE (price-to-earnings) ratio of 23.5x compared to 43.0x for Under Armour (UAA), 23.5x for Lululemon Athletica (LULU), and 20.8x for Columbia Sportswear (COLM).

The average 12-month price target by 37 analysts covering Nike is $60.40, indicating an upside of ~14.0% over the next one-year period.

Twenty-one of the 37 analysts have recommended a “buy” for the stock. Fourteen have recommended a “hold,” and two have recommended a “sell.”

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