KIEV, UKRAINE - 2018/10/16: In this photo illustration, the Nike Footwear manufacturing company ... [+]
LightRocket via Getty ImagesNike Inc. NKE is scheduled to report earnings after Thursday’s close. The stock hit a record high of $147.95/share in 2020 and is currently trading near $145/share. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if the numbers disappoint, the stock can easily gap down. To help you prepare, here is what the Street is expecting:
Earnings Preview:
The company is expected to report a gain of $0.75/share on $11.05 billion in revenue. Meanwhile, the so-called Whisper number is a gain of $0.82/share. The Whisper number is the Street's unofficial view on earnings.
Charts & Data Courtesy MarketSmith Incorporated
MarketSmith IncorporatedA Closer Look At The Fundamentals:
The company’s earnings grew in three of the last four quarters. That’s impressive considering the Covid-19 lockdowns hurt demand. Meanwhile, revenue grew by 9% in the last quarter vs the same quarter in the prior year. That is encouraging because as the world moves back to normal more that should bode well for the company.
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A Closer Look At The Technicals:
Technically, the stock looks great as it remains perched just below a fresh record high. The stock is building a new base as it consolidates its recent and robust rally it enjoyed over the past 12 months. The bulls want to see the stock jump above $147.95 and that will trigger a new technical breakout.
Pay Attention To How The Stock Reacts To The News:
From where I sit, the most important trait I look for during earnings season is how the market and a specific company reacts to the news. Remember, always keep your losses small and never argue with the tape.
The Link LonkMarch 17, 2021 at 10:15AM
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Earnings Preview: Nike Reports After Thursday’s Close. Here’s What To Expect. - Forbes
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