24.06.2022 23:58

NIKE Q4 Earnings Preview: 8th Consecutive EPS Beat in Store?

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The first quarter of 2022 was one for the books and one that many investors undoubtedly want to forget about. Primarily, we witnessed deep valuation slashes following many companies’ quarterly reports due to margin compression, geopolitical issues, and of course, a hawkish Fed.It’s in the rear-view mirror, but the second round of quarterly reports for 2022 is quickly approaching.  One company, NIKE NKE, will release 2022 Q4 results on Monday after the bell rings.NIKE is the global leader in athletic footwear, apparel, equipment, and sports-related accessories, with operations in over 160 countries. With the help of a strong brand portfolio, including Nike Pro, Nike Golf, Nike+, and Air Jordan, the company offers premium, well-designed, and high-quality products in line with the latest customer trends.Let’s examine how the company shapes up heading into the quarterly report.Share Performance  Year-to-date, it’s been a rough stretch for NIKE shares, although that is the theme for most companies throughout 2022. NIKE shares have lost more than 30% in value, extensively underperforming the S&P 500.Image Source: Zacks Investment ResearchUpon extending the timeframe, the story remains the same. NIKE shares have struggled over the last year, with a strong downtrend beginning near late 2021 and vastly underperforming the S&P 500.Image Source: Zacks Investment ResearchOverview Heading into the quarterly report, NIKE is a Zacks Rank #4 (Sell) with an overall VGM Score of a D. Additionally, the company has an Earnings ESP Score of -1.6%.Generally, stocks with a positive Earnings ESP Score paired with a Zacks Rank #3 (Hold) or higher have increased odds of recording an EPS beat. However, NIKE currently does not fit within those parameters.ValuationNIKE currently has a 24.3X forward earnings multiple, which appears slightly pricey. However, the current value is nowhere near 2020 highs of 54.4X and well below its five-year median of 32.4X. Furthermore, the value represents a rich 43% premium relative to the S&P 500’s value of 16.9X.NIKE has a Style Score of a D for Value.Image Source: Zacks Investment ResearchPrevious Quarterly ResultsThe company has continuously posted strong bottom-line results, exceeding bottom-line expectations nine times out of its last ten quarterly reports – undoubtedly a major positive that bodes well for the company heading into Monday.Over its last four quarters, NIKE has beat EPS estimates by an average of 34%, and in its latest quarter, the company exceeded bottom-line estimates by a notable 20%.The top line has primarily displayed strength as well, with NIKE beating top-line estimates in seven of its last ten quarters. Additionally, in its latest quarter, NIKE beat the $10.6 billion revenue estimate handily by 2.5% and reported quarterly sales of $10.8 billion.Growth Estimates NIKE is estimated to rake in $12.1 billion for the quarter, a marginal 2.1% decrease in revenue from year-ago quarterly sales of $12.3 billion. However, for the full fiscal year, the top-line is forecasted to expand a notable 4.6%, with annual sales estimated at $46.6 billion.Pivoting to bottom-line projections, the $0.81 per share quarterly estimate reflects a mildly concerning 13% decrease in earnings from the year-ago quarterly EPS figure of $0.93. Additionally, analysts have been significantly lowering their outlook for the quarter over the last 60 days, causing the Consensus Estimate Trend to retrace 5.8%.Image Source: Zacks Investment ResearchBottom LineOverall, the strong, consistent bottom-line performance bodes well for the company heading into the quarterly release. However, carrying a Zacks Rank #4 (Sell) with a negative Earnings ESP Score indicates that the company may struggle to exceed EPS estimates – something that investors should be aware of.Additionally, valuation levels appear pricey as well, another reason I believe that investors should heed caution and deploy a defense-first approach when considering the stock.For investors seeking exposure to the industry that NIKE operates within, a great bet would be Caleres, Inc. CAL. The company is a Zacks Rank #1 (Strong Buy), and analysts have been upping their earnings estimates across nearly all timeframes over the last 60 days.Caleres is a footwear retailer and wholesaler. The company is involved in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing, and marketing of footwear for women and men.Year-to-date, CAL shares are up nearly 26%, easily crushing the S&P 500’s decline of approximately 20%.Image Source: Zacks Investment ResearchIn addition to a very favorable Zacks Rank, the company also carries a Style Score of an A for Value. CAL’s 6.2X forward earnings multiple is very enticing and represents an attractive 64% discount relative to the S&P 500’s value.For the upcoming quarter, the Consensus Estimate Trend has climbed 27%, reflecting quarterly EPS of $1.32 and penciling in a strong 11% growth in earnings from the year-ago quarter.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NIKE, Inc. (NKE): Free Stock Analysis Report Caleres, Inc. (CAL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Analysen zu Nike Inc.

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  • Buy
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10.08.2022Nike OverweightJP Morgan Chase & Co.
29.06.2022Nike OverweightBarclays Capital
28.06.2022Nike OutperformCredit Suisse Group
28.06.2022Nike BuyDeutsche Bank AG
28.06.2022Nike OverweightJP Morgan Chase & Co.
10.08.2022Nike OverweightJP Morgan Chase & Co.
29.06.2022Nike OverweightBarclays Capital
28.06.2022Nike OutperformCredit Suisse Group
28.06.2022Nike BuyDeutsche Bank AG
28.06.2022Nike OverweightJP Morgan Chase & Co.
21.12.2020Nike HoldJefferies & Company Inc.
21.12.2020Nike HoldJefferies & Company Inc.
23.09.2020Nike HoldJefferies & Company Inc.
26.06.2020Nike HoldJefferies & Company Inc.
01.05.2020Nike HoldJefferies & Company Inc.
14.06.2022Nike HoldHSBC
25.06.2021Nike VerkaufenDZ BANK
23.04.2021Nike VerkaufenDZ BANK
22.12.2020Nike VerkaufenDZ BANK
26.06.2020Nike VerkaufenDZ BANK

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