FY2024 EPS Estimates for adidas AG (OTCMKTS:ADDYY) Increased by Analyst

adidas AG (OTCMKTS:ADDYY) – Wedbush lifted their FY2024 earnings estimates for adidas in a research report issued on Tuesday, April 30th. Wedbush analyst T. Nikic now anticipates that the company will post earnings of $1.46 per share for the year, up from their previous forecast of $1.41. The consensus estimate for adidas’ current full-year earnings is $1.83 per share.

ADDYY has been the subject of several other reports. Royal Bank of Canada upgraded shares of adidas from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 5th. Stifel Nicolaus upgraded shares of adidas from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Morgan Stanley upgraded shares of adidas from an “underweight” rating to an “overweight” rating in a research note on Monday, April 15th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

adidas Price Performance

Shares of ADDYY stock opened at $121.18 on Thursday. The firm has a fifty day simple moving average of $110.33 and a 200-day simple moving average of $101.59. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.66 and a current ratio of 1.22. adidas has a twelve month low of $79.58 and a twelve month high of $125.54.

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). The firm had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.22 billion. adidas had a negative net margin of 0.33% and a negative return on equity of 2.21%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Capital Square LLC bought a new position in adidas during the 4th quarter valued at $1,405,000. Fisher Asset Management LLC raised its holdings in shares of adidas by 27.5% during the fourth quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock worth $1,296,000 after purchasing an additional 2,749 shares during the period. Mar Vista Investment Partners LLC raised its holdings in shares of adidas by 8.0% during the fourth quarter. Mar Vista Investment Partners LLC now owns 27,044 shares of the company’s stock worth $2,749,000 after purchasing an additional 2,000 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of adidas during the fourth quarter worth $45,000.

adidas Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.2394 per share. The ex-dividend date is Friday, May 17th. adidas’s dividend payout ratio (DPR) is -109.09%.

adidas Company Profile

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.