What's Going On With Nike Stock Thursday?

Nike Inc NKE stock is in the spotlight Thursday ahead of earnings. Here’s what you need to know before the report.

What To Know: Nike is set to report fiscal fourth-quarter earnings results after the market close on Thursday. The company is expected to report earnings of 85 cents per share and quarterly revenue of $12.907 billion, according to analyst estimates from Benzinga Pro.

Last quarter, Nike beat analyst estimates on the top and bottom lines, but shares fell as China sales continued to slow.

“Our teams are focused on what matters most to return to strong growth. We are taking action to build a faster, more efficient NIKE and maximize the impact of our new innovation cycle,” Nike CFO Matthew Friend said at the time.

Several analysts have adjusted ratings on Nike stock this month leading up to earnings.

• Wells Fargo analyst Ike Boruchow maintained Nike with an Overweight and lowered the price target from $120 to $115.

• Deutsche Bank analyst Krisztina Katai reinstated Nike with a Buy and announced a price target of $115.

• Morgan Stanley analyst Alex Straton maintained Nike with an Overweight and lowered the price target from $116 to $114.

• JPMorgan analyst Matthew Korn maintained Nike with an Overweight and lowered the price target from $122 to $116.

• Oppenheimer analyst Brian Nagel upgraded Nike from Perform to Outperform and raised the price target from $110 to $120.

• Telsey Advisory Group analyst Joseph Feldman maintained Nike with an Outperform and price target of $115.

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Wednesday on CNBC’s “Fast Money Halftime Report,” Virtus Investment Partners’ Joe Terranova announced he bought Nike stock ahead of earnings, noting that the risk-reward setup looks “favorable.”

NKE Price Action: Nike shares are down approximately 13% year-to-date. The stock was up 0.56% at $94.59 Thursday ahead of the print, according to Benzinga Pro.

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