- 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 $US0.46 a share on revenue of $US9.17 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: $US0.46
- Revenue: $US9.17 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 $US103 price target – 54% above where shares were trading Thursday.
Nike was up 7% this year.
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