Nike Inc (NYSE:NKE) is scheduled to report fiscal fourth-quarter earnings after the close on Tuesday, June 30. According to Zacks Research, analysts expect earnings of $0.11 per share, a 21.4% decline from the same quarter a year ago, on revenue of $10.87 billion.
Nike stock has been mired in a long-term downtrend since its 2021 record highs up around $168. More recently, the shares have struggled to bounce back since touching an 11-year low of $41.35 on May 18. Year to date, the equity is down 28.5%.
The options market is pricing in a next-day move of 11%, slightly above the stock's average post-earnings move of 10% over the last eight quarters. NKE has closed lower after five of its last eight earnings reports, including declines of 15.5% and 10.5% following its two most recent quarterly releases.
Despite the stock's prolonged slide, sentiment remains optimistic. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Nike's 50-day call/put volume ratio of 3.51 ranks higher than 86% of annual readings, while its Schaeffer's put/call open interest ratio (SOIR) of 0.44 sits lower than 99% of readings from the past year.
