adidas AG (OTCMKTS:ADDYY) Forecasted to Post Q1 2024 Earnings of $0.88 Per Share

adidas AG (OTCMKTS:ADDYY – Get Rating) – Equities research analysts at Telsey Advisory Group issued their Q1 2024 earnings per share estimates for shares of adidas in a research note issued on Thursday, March 9th. Telsey Advisory Group analyst C. Fernandez forecasts that the company will post earnings of $0.88 per share for the quarter. The consensus estimate for adidas’ current full-year earnings is ($0.51) per share. Telsey Advisory Group also issued estimates for adidas’ Q2 2024 earnings at $0.55 EPS, Q3 2024 earnings at $1.03 EPS, Q4 2024 earnings at ($0.43) EPS, FY2024 earnings at $2.03 EPS and FY2025 earnings at $3.96 EPS.

ADDYY has been the subject of a number of other research reports. JPMorgan Chase & Co. upgraded adidas from a “neutral” rating to an “overweight” rating in a research report on Tuesday, February 28th. Royal Bank of Canada boosted their price target on adidas from €100.00 ($106.38) to €120.00 ($127.66) in a research report on Tuesday, November 15th. Berenberg Bank upgraded adidas from a “hold” rating to a “buy” rating in a research report on Tuesday, February 28th. Jefferies Financial Group lowered adidas from a “buy” rating to a “hold” rating in a research report on Friday, February 10th. Finally, HSBC upgraded adidas from a “hold” rating to a “buy” rating in a report on Wednesday, March 1st. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $161.10.

adidas Price Performance

Shares of OTCMKTS ADDYY opened at $78.46 on Monday. adidas has a twelve month low of $45.48 and a twelve month high of $121.75. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $30.07 billion, a price-to-earnings ratio of 44.33 and a beta of 0.98. The business has a 50 day simple moving average of $77.65 and a 200-day simple moving average of $68.29.

Hedge Funds Weigh In On adidas

Several large investors have recently added to or reduced their stakes in ADDYY. Mar Vista Investment Partners LLC raised its holdings in shares of adidas by 39.2% in the 3rd quarter. Mar Vista Investment Partners LLC now owns 49,573 shares of the company’s stock worth $2,887,000 after buying an additional 13,969 shares in the last quarter. Capital Square LLC raised its holdings in shares of adidas by 130.2% in the 3rd quarter. Capital Square LLC now owns 11,891 shares of the company’s stock worth $692,000 after buying an additional 6,726 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of adidas by 4.2% in the 3rd quarter. Yousif Capital Management LLC now owns 6,404 shares of the company’s stock worth $368,000 after buying an additional 260 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of adidas in the 3rd quarter worth approximately $350,000. Finally, Madison Asset Management LLC raised its holdings in shares of adidas by 24.2% in the 4th quarter. Madison Asset Management LLC now owns 25,551 shares of the company’s stock worth $1,731,000 after buying an additional 4,983 shares in the last quarter. Institutional investors and hedge funds own 0.05% of the company’s stock.

adidas Company Profile

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adidas AG engages in the design, distribution, and marketing of athletic and sporting lifestyle products. It operates through the following geographical segments: EMEA, North America, Greater China, Asia-Pacific, Latin America, and Other Businesses. The Other Businesses segment includes the activities of the Y-3 label and other subordinated businesses.