Nike’s 3Q18 results preview
Oregon-based Nike (NKE) is slated to release financial results for fiscal 3Q18 after the market closes on March 22, 2018. Wall Street analysts have projected a 22% decline in the company’s earnings per share to 53 cents on total sales of $8.8 billion. Nike outdid Wall Street earnings expectations in the first two quarters of the fiscal year but missed top-line projections during the first quarter.
Read part two and three of this series to know about the company’s recent financial performance and expectations from the coming quarter.
After delivering ~20% returns in 2017, Nike’s stock has gained around 5% this year. Analysts see a modest upside to the company’s share price. Read part four of this series to know more.
Founded in 1968, Nike is the world’s largest athletic footwear and apparel company. It derives around 55% of its revenue from international markets. Footwear is its most significant product category and accounts for ~60% of its sales. The company has a market capitalization of $107.5 billion as of March 19, 2018, and is part of S&P 500 Index and the 30-stock Dow Jones Industrial Average Index.