Nike Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

NIKE, Inc. NKE is expected to release earnings results for its third quarter, after the closing bell on March 21, 2024.

Analysts expect the Beaverton, Oregon-based company to report quarterly earnings at 74 cents per share, down from 79 cents per share in the year-ago period. Nike is projected to report quarterly revenue of $12.29 billion, according to data from Benzinga Pro.

Last month, Nike reportedly stated its plan to curtail around 2% of its workforce, or over 1,600 jobs, to save costs. Nike Chief Executive John Donahoe said the company will use resources to boost investment in categories like running, women’s apparel, and the Jordan brand, reported The Wall Street Journal.

NIKE shares rose 0.3% to close at $100.27 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Wedbush analyst Tom Nikic maintained an Outperform rating and cut the price target from $131 to $115 on March 19, 2024. This analyst has an accuracy rate of 70%.
• Williams Trading analyst Sam Poser downgraded the stock from Hold to Sell and cut the price target from $92 to $85 on March 18, 2024. This analyst has an accuracy rate of 71%.
• Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating and slashed the price target from $140 to $120 on March 18, 2024. This analyst has an accuracy rate of 75%.
• Citigroup analyst Paul Lejuez maintained a Buy rating and decreased the price target from $135 to $125 on March 14, 2024. This analyst has an accuracy rate of 67%.
• Morgan Stanley analyst Alex Straton maintained an Overweight rating and cut the price target from $125 to $124 on March 12, 2024. This analyst has an accuracy rate of 65%.
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