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Like an athlete going through a slump, Nike (NYSE: NKE) finds itself at a critical juncture. Despite the sharp decline, Nike's stock still commands a premium valuation at 30.8 times forward earnings.
The company's shares are down almost 12% in after-hours trading, after Nike trimmed its annual sales forecast and unveiled a plan to cut $2 billion in costs. On Thursday, Nike announced that it ...
Stocks moving in after hours: Nike, FedEx, Workday. For premium support please call: 800-290-4726 more ways to reach us
Can this consumer discretionary stock reverse course, rise 33% from its current $75 price tag, and get to $100 in 2025? Adidas is in second place with a 9% share, showcasing Nike's commanding lead ...
The stock was also helped after Starbucks soared on news it was replacing its CEO, since many on social media said they would like Nike to make a similar move. Shares of Nike were up 5.3% as of 2 ...
Nike stock now trades at a forward price-to-earnings (P/E) ratio of about 25 times next fiscal year's estimates, which is one of the cheaper levels it has traded at over the past few years.
Shares are down 24% this year, with an even steeper 52% decline from its all-time high stock price of $171.71 in November 2021. Nike has struggled to navigate shifting consumer spending trends.