What to Expect From NIKE’s Upcoming Q3 Earnings?
<p>Analysts at Deutsche Bank provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/NIKE'>NIKE, Inc. (NYSE:NKE) </a>ahead of the company’s Q3 earnings results, which are expected to be reported on March 21. The analysts expect Q3 EPS to slightly beat the consensus estimate of $0.72, driven by gross profit margin upside and better-than-expected sales in North America.</p>
<p>On the flip side, the analysts are lowering their already below-consensus forecast for China (now $1.89 billion vs. the Street’s $2.10 billion) as they are concerned around COVID-related lockdowns as well as local brand demand outpacing international brands. That said, the analysts do see consumer sentiment moving in the right direction but believe it could be a couple of quarters before they get a clear picture of the top-line trajectory in the region.</p>
<p>The analysts lowered their Q4 and full 2023-year EPS estimates to $0.80 from prior $0.96 and $4.36 from prior $4.61, respectively. The analysts lowered their price target on the company’s shares to $173 from $199, while maintaining their buy rating.</p>

NYSE:NKE