Q2 2024 Earnings Forecast for adidas AG Issued By Wedbush (OTCMKTS:ADDYY)

adidas AG (OTCMKTS:ADDYY) – Investment analysts at Wedbush reduced their Q2 2024 earnings estimates for adidas in a research report issued to clients and investors on Tuesday, April 30th. Wedbush analyst T. Nikic now forecasts that the company will earn $0.01 per share for the quarter, down from their previous forecast of $0.16. The consensus estimate for adidas’ current full-year earnings is $1.83 per share. Wedbush also issued estimates for adidas’ Q3 2024 earnings at $1.14 EPS, Q4 2024 earnings at ($0.20) EPS and FY2025 earnings at $2.50 EPS.

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

A number of other research analysts have also weighed in on the stock. Morgan Stanley raised shares of adidas from an “underweight” rating to an “overweight” rating in a research note on Monday, April 15th. Stifel Nicolaus raised shares of adidas from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada raised shares of adidas from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 5th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

adidas Stock Up 0.3 %

Shares of OTCMKTS ADDYY opened at $121.18 on Friday. adidas has a 12-month low of $79.58 and a 12-month high of $125.54. The company’s fifty day simple moving average is $110.33 and its 200 day simple moving average is $101.59. 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 company also recently announced a dividend, which will be paid on Wednesday, May 29th. Stockholders 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 dividend payout ratio is currently -109.09%.

Institutional Trading of adidas

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of adidas in the fourth quarter valued at about $45,000. Fisher Asset Management LLC raised its position in 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 period. Capital Square LLC purchased a new position in adidas in the fourth quarter valued at about $1,405,000. Finally, Mar Vista Investment Partners LLC grew its position 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 acquiring an additional 2,000 shares during the period.

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.