Nike Inc. (NYSE: NKE) is scheduled to discuss fiscal third-quarter 2009 results today in a conference call at 5:00 PM ET. You can catch the live webcast of the call on the company's website.
For the quarter that saw Nike announce restructuring to remain competitive, analysts polled by Thomson Reuters expect the shoemaker to report that earnings fell 14.1% from a year ago to 79 cents per share. Sales for the quarter are expected to have fallen marginally to $4.5 billion. Nike's earnings have topped estimates in the past five quarters, by as much as 14.1%.
Looking ahead to the fourth quarter, analysts expect earnings growth to $1.03 per share but sales to decline year over year to $4.9 billion. Some have suggested that the recession may be catching up to Nike, with the stronger dollar eating away at overseas profits.
Analysts, on average, expect Nike's long-term EPS growth rate to be 13.1%, which is better than the industry average and the S&P 500. The forward P/E ratio estimate is about 12, which is also better than the industry average. The consensus recommendation has been to buy NKE for more than 90 days. BloggingStocks contributor Ted Allrich recently included Nike on a list of stocks to have confidence in. The share price has fallen about 10% in the past three months, and it's about 23% lower it was than a year ago. The recent quarterly dividend was 25 cents per share.
See BloggingStocks' Nike coverage for more information about the the world's largest shoemaker.
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