Barclays Maintains an 'Overweight' on Nike (NKE); Q4 Earnings Preview
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Price: $38.77 +1.39%
Rating Summary:
25 Buy, 29 Hold, 3 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 5 | Down: 17 | New: 28
Rating Summary:
25 Buy, 29 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 5 | Down: 17 | New: 28
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Barclays maintains an 'Overweight' on Nike (NYSE: NKE), PT $100.
Barclays analyst says, "Nike will report 4Q11 earnings, after the close on Monday, June 27: Our EPS estimate of $1.15 is $0.01 below consensus. For the quarter, we expect revenues to increase 8.2% to $5.5 billion. We expect strength in North America, Greater China, and Emerging Markets."
"We expect gross margin to decline by 300 basis points in 4Q11 to 44.4%: We are optimistic that 4Q11 should represent the trough in gross margin pressure, relative to sourcing cost increases. Although the company indicated that it would not increase prices broadly until Spring 2012, we are optimistic that more immediate, surgical price increases will offset some of the input cost pressures in the quarter."
For more ratings news on Nike click here and for the rating history of Nike click here.
Shares of Nike closed at $81.95 yesterday.
Barclays analyst says, "Nike will report 4Q11 earnings, after the close on Monday, June 27: Our EPS estimate of $1.15 is $0.01 below consensus. For the quarter, we expect revenues to increase 8.2% to $5.5 billion. We expect strength in North America, Greater China, and Emerging Markets."
"We expect gross margin to decline by 300 basis points in 4Q11 to 44.4%: We are optimistic that 4Q11 should represent the trough in gross margin pressure, relative to sourcing cost increases. Although the company indicated that it would not increase prices broadly until Spring 2012, we are optimistic that more immediate, surgical price increases will offset some of the input cost pressures in the quarter."
For more ratings news on Nike click here and for the rating history of Nike click here.
Shares of Nike closed at $81.95 yesterday.
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