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Nike Inc. (NKE), which said it stands by embattled Tiger Woods, is scheduled to discuss its financial results for the second quarter of fiscal 2010 in a conference call Thursday, December 17, at 5:00 PM (ET). You can catch the live webcast of the call on the company's website.
In the three months that ended in November, Nike selected a new CEO for Converse, launched its N7 collection and increased its quarterly dividend. Analysts surveyed by Thomson Reuters are looking for Nike to report that earnings for the quarter fell 11.3% from a year ago to 71 cents per share. Revenue is expected to decline 4.2% to $4.4 billion.
Looking ahead to the third quarter, analysts expect sequential growth in both EPS and revenue, as well as year-over-year revenue growth. Nike has topped earnings estimates in recent quarters, by as much as 20 cents per share.
Nike's long-term EPS growth forecast is 12.6%, and its earnings multiple is 17x, but that is less than the industry average. The First Call consensus recommendation is to buy NKE, and has been for more than 90 days. The mean price target is $69.45. Some analysts expect another upside surprise from Nike.
Shares have faced resistance around $65.00 since the beginning of October but are about 15% higher than six months ago.
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