adidas AG Expected to Post Q2 2023 Earnings of ($0.24) Per Share (OTCMKTS:ADDYY)

Posted by Defense World Staff on Jul 21st, 2023

adidas AG (OTCMKTS:ADDYY – Free Report) – Equities research analysts at Telsey Advisory Group lifted their Q2 2023 earnings per share (EPS) estimates for shares of adidas in a research note issued to investors on Monday, July 17th. Telsey Advisory Group analyst C. Fernandez now expects that the company will earn ($0.24) per share for the quarter, up from their previous forecast of ($0.44). The consensus estimate for adidas’ current full-year earnings is ($1.43) per share. Telsey Advisory Group also issued estimates for adidas’ Q3 2023 earnings at ($0.02) EPS, Q4 2023 earnings at ($0.76) EPS, FY2023 earnings at ($1.15) EPS and Q2 2024 earnings at $0.39 EPS.

ADDYY has been the subject of several other reports. Sanford C. Bernstein upgraded adidas from a “market perform” rating to an “outperform” rating in a research note on Monday, June 12th. UBS Group upgraded adidas from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, adidas has a consensus rating of “Hold” and an average price target of $134.13.

adidas Price Performance

Shares of ADDYY stock opened at $94.81 on Thursday. adidas has a 1-year low of $45.48 and a 1-year high of $99.83. The stock’s 50-day moving average is $91.27 and its 200 day moving average is $84.78. The company has a market cap of $36.33 billion, a P/E ratio of 430.95 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.27 and a quick ratio of 0.63.

adidas (OTCMKTS:ADDYY – Get Free Report) last posted its quarterly earnings results on Friday, May 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). adidas had a negative return on equity of 1.57% and a net margin of 0.42%. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.56 billion.

adidas Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, May 23rd. Investors of record on Monday, May 15th were paid a $0.2439 dividend. This represents a dividend yield of 0.27%. The ex-dividend date was Friday, May 12th. adidas’s dividend payout ratio (DPR) is 109.09%.

Institutional Trading of adidas

Hedge funds and other institutional investors have recently bought and sold shares of the company. Todd Asset Management LLC lifted its position in adidas by 33.3% in the fourth quarter. Todd Asset Management LLC now owns 44,000 shares of the company’s stock worth $2,981,000 after purchasing an additional 11,000 shares during the period. Mar Vista Investment Partners LLC increased its stake in shares of adidas by 12.6% in the first quarter. Mar Vista Investment Partners LLC now owns 35,590 shares of the company’s stock worth $4,196,000 after acquiring an additional 3,993 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of adidas by 111.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock worth $151,000 after acquiring an additional 675 shares during the last quarter. Financial Gravity Asset Management Inc. increased its stake in shares of adidas by 356.9% in the first quarter. Financial Gravity Asset Management Inc. now owns 8,933 shares of the company’s stock worth $795,000 after acquiring an additional 6,978 shares during the last quarter. Finally, OLD Mission Capital LLC acquired a new position in adidas during the first quarter worth $7,187,000. 0.07% of the stock is owned by institutional investors.

About adidas

(Get Free Report)

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.