The Ratings Game: Nike shares tumble after conservative outlook, but analysts say ‘don’t be fooled’ [MarketWatch]
Nike, Inc. (NKE)
Last nike, inc. earnings: 3/24 04:15 pm
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Source: MarketWatch
Nike shares tumble after conservative outlook, but analysts say ‘don’t be fooled’ Nike Inc. shares fell 5.7% in Friday trading after the global athletic giant gave fiscal fourth-quarter 2019 guidance that spooked investors, but analysts are still bullish thanks to the company’s strong fundamentals. Nike NKE, -6.20% reported a fiscal third-quarter earnings beat , but said fourth quarter revenue would feel an FX pinch of about six percentage points, “which would result in low-single digit reported revenue growth,” Andrew Campion, chief financial officer at Nike said on the earnings call, according to a FactSet transcript. “Recall that during Q4 of last year, the euro approached $1.25 before depreciating to as low as $1.15 in Q1 of this fiscal year, a similar dynamic exists with respect to renminbi,” he said. The company expects currency pressure to “narrow significantly” heading into fiscal 2020. Read: Levi Strauss sees growth opportunities in high-end department stores The news s
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NKE
News
- Caitlin Clark set to sign massive shoe deal with Nike, according to reports [USA TODAY]USA TODAY
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- Nike (NKE) is a Top-Ranked Momentum Stock: Should You Buy? [Yahoo! Finance]Yahoo! Finance
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NKE
Earnings
- 3/21/24 - Beat
NKE
Sec Filings
- 4/4/24 - Form 10-Q
- 3/21/24 - Form 8-K
- 3/11/24 - Form 8-K
- NKE's page on the SEC website