Q1 2024 Earnings Forecast for adidas AG (OTCMKTS:ADDYY) Issued By Telsey Advisory Group

adidas AG (OTCMKTS:ADDYY) – Equities research analysts at Telsey Advisory Group boosted their Q1 2024 earnings per share estimates for shares of adidas in a report released on Wednesday, April 17th. Telsey Advisory Group analyst C. Fernandez now forecasts that the company will earn $0.66 per share for the quarter, up from their previous estimate of $0.16. The consensus estimate for adidas’ current full-year earnings is $1.82 per share. Telsey Advisory Group also issued estimates for adidas’ Q2 2024 earnings at $0.39 EPS, Q4 2024 earnings at ($0.34) EPS, FY2024 earnings at $2.01 EPS and FY2025 earnings at $3.78 EPS.

adidas (OTCMKTS:ADDYY) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.22 billion.

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

adidas Stock Performance

ADDYY stock opened at $119.66 on Monday. adidas has a 52 week low of $79.58 and a 52 week high of $120.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.22 and a quick ratio of 0.66. The firm has a 50-day simple moving average of $106.14 and a 200-day simple moving average of $99.87.

adidas Cuts Dividend

The business also recently announced 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 payout ratio is currently -109.09%.

Hedge Funds Weigh In On adidas

Several large investors have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in shares of adidas in the fourth quarter valued at approximately $45,000. Fisher Asset Management LLC lifted its holdings in adidas by 27.5% during the 4th 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 in the last quarter. Capital Square LLC purchased a new position in adidas in the 4th quarter valued at approximately $1,405,000. Finally, Mar Vista Investment Partners LLC grew its stake in shares of adidas by 8.0% in the fourth quarter. Mar Vista Investment Partners LLC now owns 27,044 shares of the company’s stock worth $2,749,000 after acquiring an additional 2,000 shares in the last quarter.

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.