Nike Stock Lacing Up for Earnings Next Week

Yes, there are still earnings reports to get ready for. Nike Inc (NYSE:NKE) will announce its fiscal first-quarter results after the close on Tuesday, September 30. The athletic retailer is expected to post earnings of 28 cents per share on revenue of $11 billion, both down from the same quarter a year ago.

Today, Morgan Stanley lifted its price target on NKE to $70 from $64, maintaining its "equal weight" rating. The firm said it expects the retailer's earnings to match estimates. 

Looking back at Nike stock's history of post-earnings moves, the shares finally snapped a six-quarter post-earnings losing streak this past June. The shares added 15.2% after topping earnings and revenue expectations, with the company stating that the worst of its turnaround efforts are over. This time around, the options pits are pricing in a 10.9% next-day swing, regardless of direction. 

On the charts, the shares have been trading within a familiar range between the $70 and $80 level since that June bull gap. Last seen down 0.5% at $70.92, NKE is in the lower end of that range. Year to date, the equity is down 6.2%.