Nike Earnings Beat But Weaker North American Sales Disappoint

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  • #20230
    ThePitBoss
    Participant

    Nike reported stronger earnings than expected after the…

    [article]1428[/article]

    #20243
    ThePitBoss
    Participant

    Susquehanna Financial’s Sam Positive rating and $100 price target on Nike’s $NKE.

    “Based on numerous channel checks, and commentary by retailers and other brands, it is clear to us that, due to a strong product pipeline across distribution channels, Nike has just begun taking share from other brands, and such share taking will continue for the foreseeable future,” Poser wrote

    #20244
    ThePitBoss
    Participant

    Christopher Svezia at Wedbush Outperform rating and a $96 price target on Nike

    “While fourth-quarter guidance will likely lower Street estimates. Nike should beat given brand momentum (including women’s and Jordan) with record global consumer engagement and gross margin upside with average selling prices, clean global inventory (+1%) and direct-to-consumer, regional, and category (apparel likely accelerates) mix supportive.”

    #20245
    ThePitBoss
    Participant

    Jim Duffy at Stifel Buy rating and $96 price target on Nike stock.

    The latest results “show balanced fundamental strength and benefits from innovation and direct-to-consumer investment, These strong results, however, were challenged by comparisons with the fiscal second quarter and business showed deceleration in all regions. Paired with elevated expectations and…guidance that disappointed relative published estimates, we are not surprised by pressure on shares.”

    #20246
    ThePitBoss
    Participant

    Camilo Lyon, at Canaccord Genuity, reiterated a Buy rating and a $96 price target on Nike

    “While intensifying foreign exchange pressures are weighing on fourth-quarter revenue … they are expected to dissipate at the start of fiscal 2020,” Lyon noted.

    #20247
    ThePitBoss
    Participant

    Nomura Instinet analyst Simeon Siegel, a Buy rating on Nike stock, boostedraised his price target from $85 to $91.

    “Nike is once again far outpacing peers,” Siegel wrote. “With discussions around percentage growth rates, it seems helpful to contextualize the dollars being gained across the athletic space; Nike is by far the clear winner across categories and within North America.”

    #20248
    ThePitBoss
    Participant

    UBS analyst Jay Sole has a Neutral rating on Nike stock lowered his price target down by $1, to $86 per share.

    “The company’s new full-year 2020 guidance shows it is now back on track to increase income before taxes at a double-digit rate going forward, We think the stock’s 27 times fiscal 2020 price-to-earnings ratio, essentially a 20-year peak, reflects this recovery.”

    #20249
    ThePitBoss
    Participant

    Nike Inc NYSE: NKE · March 22, 1:53 PM EDT
    82.64 ▼ 5.43 (6.17%)

    #20424
    Super Harley
    Participant

    Under Armour Stock Falls After Athletic Footwear and Apparel Brands survey Says Gap Widening With Nike and Others

    Latest Athletic Footwear and Apparel Brands survey, conducted by research firm B. Riley FBR, showed that consumers look elsewhere to purchase fashionable apparels and sportswear. People’s fast-changing brand preferences and the growing adoption of direct-to-customer sales model are the main headwinds currently facing Under Armour.

    The data indicate that overall athletic footwear sales softened in 2019, compared to last year. Concerned over the fact that in footwear sales, the gap between Under Armour and its rivals has widened in the last couple of years, B. Riley reaffirmed its sell rating on the company and set the price target at $12.

    Currently, Nike, Reebok (RBK) and Adidas hold the top three positions in various categories. While Under Armour stays at the third position in the apparels section, it has fallen below the market-leaders in the sneaker category. And, the primary factor that differentiates the company from others is the absence of innovation.

    Under Armour Inc Class A
    NYSE: UAA
    20.72 USD −1.02 (4.69%) Close

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