Brokers Issue Forecasts for adidas AG’s FY2024 Earnings (OTCMKTS:ADDYY)

adidas AG (OTCMKTS:ADDYY) – Equities researchers at Wedbush upped their FY2024 earnings per share estimates for adidas in a report released on Tuesday, April 16th. Wedbush analyst T. Nikic now forecasts that the company will post earnings of $1.41 per share for the year, up from their previous estimate of $1.36. The consensus estimate for adidas’ current full-year earnings is $1.71 per share.

ADDYY has been the topic of several other research reports. Morgan Stanley raised adidas from an “underweight” rating to an “overweight” rating in a report on Monday, April 15th. Royal Bank of Canada upgraded adidas from a “sector perform” rating to an “outperform” rating in a report on Monday, February 5th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

adidas Stock Down 0.3 %

ADDYY stock opened at $119.40 on Friday. The firm’s 50-day moving average is $105.62 and its two-hundred day moving average is $99.52. The company has a current ratio of 1.22, a quick ratio of 0.66 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $45.75 billion, a price-to-earnings ratio of -542.73 and a beta of 1.18. adidas has a 52 week low of $79.58 and a 52 week high of $120.75.

adidas (OTCMKTS:ADDYY) last announced its earnings results on Wednesday, March 13th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.36). adidas had a negative net margin of 0.33% and a negative return on equity of 2.21%. The business had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.22 billion.

Institutional Investors Weigh In On adidas

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Square LLC acquired a new stake in shares of adidas during the fourth quarter worth $1,405,000. Rhumbline Advisers acquired a new stake in adidas during the 2nd quarter worth about $809,000. Mar Vista Investment Partners LLC lifted its stake in adidas by 12.6% during the first quarter. Mar Vista Investment Partners LLC now owns 35,590 shares of the company’s stock valued at $4,196,000 after buying an additional 3,993 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of adidas by 27.5% in the fourth quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock worth $1,296,000 after buying an additional 2,749 shares during the period. Finally, Comerica Bank purchased a new position in shares of adidas in the second quarter worth approximately $247,000.

adidas Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be given a $0.2394 dividend. The ex-dividend date is Friday, May 17th. adidas’s dividend payout ratio (DPR) is -104.55%.

About adidas

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.