In the latest trading session, Nike (NKE) closed at $78.34, marking a +0.94% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.38%. Meanwhile, the Dow experienced a drop of 0.31%, and the technology-dominated Nasdaq saw a decrease of 0.59%.

Coming into today, shares of the athletic apparel maker had lost 1.01% in the past month. In that same time, the Consumer Discretionary sector gained 9.85%, while the S&P 500 gained 3.76%.

Investors will be eagerly watching for the performance of Nike in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on December 19, 2024. It is anticipated that the company will report an EPS of $0.64, marking a 37.86% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $12.18 billion, down 9.01% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.75 per share and a revenue of $47.48 billion, signifying shifts of -30.38% and -7.55%, respectively, from the last year.

Investors should also take note of any recent adjustments to analyst estimates for Nike. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.07% higher. Right now, Nike possesses a Zacks Rank of #4 (Sell).

With respect to valuation, Nike is currently being traded at a Forward P/E ratio of 28.27. This valuation marks a premium compared to its industry's average Forward P/E of 16.03.

Meanwhile, NKE's PEG ratio is currently 1.88. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Shoes and Retail Apparel industry held an average PEG ratio of 1.48.

The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 41, placing it within the top 17% of over 250 industries.