FY2024 EPS Estimates for adidas AG Boosted by Wedbush (OTCMKTS:ADDYY)

adidas AG (OTCMKTS:ADDYY) – Equities research analysts at Wedbush boosted their FY2024 earnings per share (EPS) estimates for shares of adidas in a research note issued to investors on Tuesday, April 16th. Wedbush analyst T. Nikic now anticipates that the company will post earnings of $1.41 per share for the year, up from their previous forecast of $1.36. The consensus estimate for adidas’ current full-year earnings is $1.81 per share.

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

Several other brokerages also recently commented on ADDYY. Royal Bank of Canada raised adidas from a “sector perform” rating to an “outperform” rating in a report on Monday, February 5th. Morgan Stanley raised shares of adidas from an “underweight” rating to an “overweight” rating in a research note on Monday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

adidas Stock Performance

OTCMKTS ADDYY opened at $119.73 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.22 and a debt-to-equity ratio of 0.49. The business’s fifty day moving average is $105.09 and its two-hundred day moving average is $99.18. adidas has a 1 year low of $79.58 and a 1 year high of $120.75.

adidas Cuts Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.2394 per share. The ex-dividend date is Friday, May 17th. adidas’s dividend payout ratio is -109.09%.

Institutional Investors Weigh In On adidas

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new position in shares of adidas in the 4th quarter valued at about $45,000. PNC Financial Services Group Inc. lifted its position in adidas by 111.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock worth $151,000 after buying an additional 675 shares in the last quarter. Mar Vista Investment Partners LLC boosted its stake in shares of adidas by 8.0% during the 4th quarter. Mar Vista Investment Partners LLC now owns 27,044 shares of the company’s stock valued at $2,749,000 after buying an additional 2,000 shares during the period. Comerica Bank purchased a new position in shares of adidas during the 2nd quarter valued at $247,000. Finally, Fisher Asset Management LLC increased its stake 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 acquiring an additional 2,749 shares during 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.