Here comes Nike...
- Nike is scheduled to report its third-quarter results after the market's close on Thursday.
- Shares have been on a tear in recent months, up 19% gain so far in 2019.
- Watch Nike trade in live.
As Nike was set to report quarterly earnings after the closing bell on Thursday, its shares were poised to close at a record high. Here's what Wall Street is expecting from the sneaker giant's third-quarter results, according to analysts surveyed by Bloomberg.
- Adjusted earnings per share (EPS): $0.65.
- Revenue: $9.6 billion.
Nike shares took a hit last month after Zion Williamson, the star college-basketball player, was injured when his sneakers malfunctioned. But the episode did little to dent the stock's longer-term performance, with shares still up 19% this year.Sam Poser, an analyst at Susquehanna who is generally quite bullish in his footwear coverage, recommended buying Nike ahead of its report. He said solid results from Foot Locker earlier this month indicated Nike sales have gained momentum.
"Footwear increasing market share across categories, distribution channels, geographies and genders," Poser told clients last week. "The momentum of apparel sales growth continues as well; we think women's apparel will continue to be the greatest opportunity for growth."
The third-quarter results comes after a particularly strong showing last quarter, which showed efforts around Nike's digital strategy had paid off.
Wall Street is generally pretty bullish on the company. Analysts surveyed by Bloomberg, carry 25 "buy" ratings, 10 "hold" ratings, and just one "sell."
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