Q2 2024 EPS Estimates for adidas AG Decreased by Telsey Advisory Group (OTCMKTS:ADDYY)

adidas AG (OTCMKTS:ADDYY) – Analysts at Telsey Advisory Group dropped their Q2 2024 EPS estimates for adidas in a research report issued on Wednesday, May 1st. Telsey Advisory Group analyst C. Fernandez now expects that the company will post earnings of $0.38 per share for the quarter, down from their previous forecast of $0.39. The consensus estimate for adidas’ current full-year earnings is $1.80 per share. Telsey Advisory Group also issued estimates for adidas’ Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at $1.88 EPS and FY2025 earnings at $3.71 EPS.

adidas (OTCMKTS:ADDYY) last issued 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 return on equity of 2.21% and a negative net margin of 0.33%. The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.22 billion.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus upgraded shares of adidas from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada upgraded adidas from a “sector perform” rating to an “outperform” rating in a report on Monday, February 5th. Finally, Morgan Stanley upgraded adidas from an “underweight” rating to an “overweight” rating in a report on Monday, April 15th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, adidas currently has an average rating of “Buy”.

adidas Stock Performance

adidas stock opened at $121.18 on Monday. adidas has a fifty-two week low of $79.58 and a fifty-two week high of $125.54. The stock’s fifty day moving average is $110.72 and its two-hundred day moving average is $101.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.22 and a quick ratio of 0.66.

adidas Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be issued a $0.2394 dividend. The ex-dividend date of this dividend is Friday, May 17th. adidas’s payout ratio is currently -109.09%.

Hedge Funds Weigh In On adidas

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

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.