FY2024 EPS Estimates for adidas AG (OTCMKTS:ADDYY) Increased by Analyst

adidas AG (OTCMKTS:ADDYY) – Equities researchers at Wedbush raised their FY2024 earnings estimates for shares of adidas in a research note issued to investors on Tuesday, April 30th. Wedbush analyst T. Nikic now anticipates that the company will post earnings per share of $1.46 for the year, up from their prior estimate of $1.41. The consensus estimate for adidas’ current full-year earnings is $1.83 per share.

Several other equities analysts have also commented on the stock. Morgan Stanley raised shares of adidas from an “underweight” rating to an “overweight” rating in a research report on Monday, April 15th. Stifel Nicolaus raised shares of adidas from a “hold” rating to a “buy” rating in a research report 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 report on Monday, February 5th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

adidas Price Performance

Shares of adidas stock opened at $121.18 on Thursday. 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 company has a 50 day moving average price of $110.33 and a 200 day moving average price of $101.59. adidas has a 52 week low of $79.58 and a 52 week high of $125.54.

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

Institutional Investors Weigh In On adidas

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in adidas in the 4th quarter valued at $45,000. Fisher Asset Management LLC grew its stake in adidas by 27.5% in the 4th quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock valued at $1,296,000 after acquiring an additional 2,749 shares during the period. Capital Square LLC acquired a new stake in adidas in the 4th quarter valued at $1,405,000. Finally, Mar Vista Investment Partners LLC grew its stake in adidas by 8.0% in 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 Cuts Dividend

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

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.