Nike stock (NKE) announces its earnings today, Jun 28 2016, after markets close.
Nike Quarterly Earnings Estimate
Revenue is expected to jump to $8.3 billion versus last year’s $7.8 billion. This jump of $500 million in revenue may be tough to meet considering the outlook on the world’s economies and Nike is a global company. Still, if they do meet revenue estimates it tells us that the consumer is still doing fine. This company is always a great barometer on the consumer. Earnings are expected to fall a bit short at 48 cents a share versus 49 cents for the same quarter last year.
Nike Stock (NKE) 2016 Chart
Since the start of the year when Nike Stock (NKE) opened at $61.52, the stock has had trouble. Three rallies earlier in the year seemed to give an indication that stock was going to break out. However the last quarterly earnings disappointed and the stock has plunged since then.
Since the start of 2016 Nike Stock (NKE) is down 15.6%. Yesterday (June 27) Nike Stock closed at $51.89.
Nike Stock (NKE) Trade Alert Heading Into Earnings
This latest trade in Nike Stock (NKE) is designed to take advantage of any volatility around the release of the fourth quarter earnings after hours today.
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