adidas AG Expected to Post FY2024 Earnings of $1.41 Per Share (OTCMKTS:ADDYY)

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

adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.22 billion.

Several other research firms have also issued reports on ADDYY. Morgan Stanley raised adidas from an “underweight” rating to an “overweight” rating in a research note on Monday, April 15th. Royal Bank of Canada raised adidas from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy”.

adidas Trading Down 0.3 %

OTCMKTS:ADDYY opened at $119.40 on Friday. adidas has a 52-week low of $79.58 and a 52-week high of $120.75. The stock has a fifty day moving average of $105.62 and a 200 day moving average of $99.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.22 and a quick ratio of 0.66.

Institutional Investors Weigh In On adidas

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of adidas in the 4th quarter valued at about $45,000. PNC Financial Services Group Inc. lifted its stake in shares of adidas by 111.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock valued at $151,000 after acquiring an additional 675 shares during the last quarter. Comerica Bank bought a new stake in shares of adidas in the 2nd quarter valued at about $247,000. Rhumbline Advisers bought a new stake in shares of adidas in the 2nd quarter valued at about $809,000. Finally, Fisher Asset Management LLC increased its holdings in adidas by 27.5% during the 4th quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock valued at $1,296,000 after purchasing an additional 2,749 shares during the period.

adidas Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.2394 per share. The ex-dividend date of this dividend is Friday, May 17th. adidas’s dividend payout ratio (DPR) is currently -109.09%.

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.