3 Major Catalysts in Store for Nike Stock
Sporting-goods retailer Nike reported its second-quarter earnings results Thursday after market close, and while the results were largely positive, shares are trading down slightly today.
The global apparel giant saw an increase in profits, thanks in part to strong demand in the United States and in several international markets. Nike announced revenue of $6.43 billion, with earnings per share of $0.59. Analysts had expected revenue to come in at $6.44 billion, with $0.58 in earnings per share.
Motley Fool analyst Charly Travers thinks this was a strong quarter for Nike. The company is investing in innovation and new products to grow the business. The Winter Olympics, the Super Bowl, and the World Cup are also poised to be positive catalysts for Nike.
Nike shares are up more than 50% year to date, and just recently tapped an all-time high. Charly thinks this stock is worth the price, and might even be a good choice for income investors.
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The article 3 Major Catalysts in Store for Nike Stock originally appeared on Fool.com.Charly Travers has no position in any stocks mentioned. Erin Kennedy has no position in any stocks mentioned. The Motley Fool recommends Nike. The Motley Fool owns shares of Nike. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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