Why Nike Is Still Wall Street’s Sportswear Favorite
Nike, which is covered by 34 Wall Street analysts, continued to be rated as a “buy” by 22 of the analysts.
Wall Street does not seem to be perturbed with Nike’s latest results, as there have been no rating changes—so far, at least.
Nike’s (NKE) stock plunged over 7% on Wednesday, March 23, a day after the company reported mixed results for fiscal 3Q17.
In this article, we’ll talk about the performances of Nike’s (NKE) key brands, Nike and Converse, and their key geographies.
Nike reported a 23.6% year-over-year rise in its earnings per share (or EPS) to $0.68 during fiscal 3Q17. The company outperformed Wall Street analysts’ estimate by a huge margin.
As discussed, Nike reported its fiscal 3Q17 results on March 21, 2017. Its top line rose 5% YoY (year-over-year) to $8.4 billion, missing analysts’ consensus estimate by ~$30 million.
Nike (NKE) reported its fiscal 3Q17 results after the market closed on March 21, 2017. Its results relate to the three-month period that ended on February 28, 2017.
Lululemon Athletica’s (LULU) stock recorded above-average performance in 2016, rising 24% during the year.
In this last part of this series, we’ll look at Wall Street’s recommendation for Lululemon Athletica (LULU).
As we discussed, the Vancouver-based Lululemon Athletica (LULU) is slated to report its fourth-quarter results on March 29.
Lululemon Athletica (LULU), which should report its fourth-quarter results on March 29, is projected to post a ~19% YoY jump in earnings per share.
Lululemon Athletica (LULU) is slated to release its results for the fourth quarter and 2016 overall on Wednesday, March 29.
PVH Corp is covered by 16 Wall Street analysts who have together have rated the company as a 2.3 on a scale of 1 (strong buy) to 5 (strong sell).
PVH Corp (PVH) delivered an above-average performance in the stock market during 2016, recording gains of 23%.
For 4Q16, PVH Corp’s management has forecast an adjusted EPS in the range of $1.13–$1.18, as compared to $1.52 one year previously.
PVH Corp has recorded a YTD sales increase of 3.2% on a YoY basis.
PVH Corp (PVH) will declare its 4Q16 and fiscal 2016 results on March 23. Its earnings are expected to fall 21.6% to $1.19.
34 Wall Street analysts cover Nike stock. 65% of the analysts recommend buying the stock, while 32% recommend holding the stock.
After delivering some superb performances in the stock market in 2014 and 2015, Nike (NKE) became the worst-performing Dow stock in 2016.
Nike mainly sells under two brands: Nike and Converse.