Nomura Bullish on Nike (NKE) Ahead of Q3 Print
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Price: $38.52 +1.05%
Rating Summary:
25 Buy, 29 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 31
Rating Summary:
25 Buy, 29 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 31
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Nomura Securities analyst Robert Drbul reiterated a Buy rating and $85 price target on Nike (NYSE: NKE) ahead of third quarter results on Thursday, March 20.
Drbul said, "Our 3Q and FY14 EPS estimates of $0.72 and $3.00 are in line with consensus. We expect a 9.3% revenue increase to $6.8bn for 3Q14 and expect futures to increase 13% in constant currency including a sequential acceleration in North American futures to +13% from 11% in 2Q. We remain keenly focused on the China and Emerging Markets regions, as well as currency fluctuations across the board. We expect gross margin to expand to 44.7% in 3Q14. We expect continued benefits from mix shift, pricing and DTC, but to a lesser extent than in the first half of fiscal 2014. We expect currency to be a headwind."
The firm maintained FY14E EPS at $3.00; FY15E EPS at $3.50.
For an analyst ratings summary and ratings history on Nike click here. For more ratings news on Nike click here.
Shares of Nike closed at $78.98 yesterday.
Drbul said, "Our 3Q and FY14 EPS estimates of $0.72 and $3.00 are in line with consensus. We expect a 9.3% revenue increase to $6.8bn for 3Q14 and expect futures to increase 13% in constant currency including a sequential acceleration in North American futures to +13% from 11% in 2Q. We remain keenly focused on the China and Emerging Markets regions, as well as currency fluctuations across the board. We expect gross margin to expand to 44.7% in 3Q14. We expect continued benefits from mix shift, pricing and DTC, but to a lesser extent than in the first half of fiscal 2014. We expect currency to be a headwind."
The firm maintained FY14E EPS at $3.00; FY15E EPS at $3.50.
For an analyst ratings summary and ratings history on Nike click here. For more ratings news on Nike click here.
Shares of Nike closed at $78.98 yesterday.
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