Nike is scheduled to announce its fiscal third-quarter earnings after the market closes on Tuesday. Here’s what you need to know.
Source: Nike Earnings: What to Watch
Sara Germano has created a play by play of what to watch for today at the close of the Stock Market. Nike will be reporting it’s Q3 earnings and this is the first under the Trump regime. How will the information shape the stock price which has rebounded to 58/share? That is to be seen.
In my last prediction I stated that Nike would return to the mid to high 50s… I’m looking like a genius right now. Check out this article:
Today however, my optimism isn’t for continued growth. I think Nike will be in a hold pattern. Unlike my previous prediction with all of the data, my data now skews heavy towards adidas. Nike will show some loss, but with some very solid products in the pipeline, I think the brand will stay steady. I don’t see a drop in share price or an increase. I do think Nike remains a buy and I’m basing this not on Nike, but on adidas and Under Armour. There is considerable marketing money that will have to be spent by both UA and adidas to maintain (adidas) and to gain (UA). These expenses for growth are built into Nike and they are simply better suited for the long haul. We will see this afternoon.