Here comes Nike …

  • Nike was lower Thursday ahead of the company’s second-quarter results, which were due out after the closing bell.
  • Analysts surveyed by Bloomberg were looking for earnings of $0.46 a share on revenue of $9.17 billion.
  • Nike shares have easily outperformed the broader market this year, rising 7%.
  • Watch Nike trade live.

Nike was set to report its second-quarter results following Thursday’s closing bell.

Here’s what analysts surveyed by Bloomberg were expecting:

  • Earnings per share: $0.46
  • Revenue: $9.17 billion

The results should “help to calm investor fears of a China and/or broader international slowdown,” Morgan Stanley analyst Lauren Cassel wrote in research note earlier this month.

She added: “We expect the event to be a positive catalyst for the stock and view the pullback as a compelling entry point; the options market implies a +/- 6% move over the event.”

Cassel has an “overweight” rating and $103 price target – 54% above where shares were trading Thursday.

Nike was up 7% this year.

Now read:

Nike shares.

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Nike shares.
source
Markets Insider