Telsey Advisory Group Brokers Reduce Earnings Estimates for adidas AG (OTCMKTS:ADDYY)

adidas AG (OTCMKTS:ADDYY) – Investment analysts at Telsey Advisory Group dropped their Q2 2024 earnings per share (EPS) estimates for shares of adidas in a report issued on Wednesday, May 1st. Telsey Advisory Group analyst C. Fernandez now expects that the company will earn $0.38 per share for the quarter, down from their previous forecast of $0.39. The consensus estimate for adidas’ current full-year earnings is $1.80 per share. Telsey Advisory Group also issued estimates for adidas’ Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at $1.88 EPS and FY2025 earnings at $3.71 EPS.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley upgraded shares of adidas from an “underweight” rating to an “overweight” rating in a research report on Monday, April 15th. Stifel Nicolaus upgraded adidas from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada raised adidas from a “sector perform” rating to an “outperform” rating in a report on Monday, February 5th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, adidas presently has an average rating of “Buy”.

adidas Stock Performance

OTCMKTS ADDYY opened at $119.74 on Monday. The company’s 50 day moving average is $111.45 and its two-hundred day moving average is $102.34. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.66 and a current ratio of 1.22. adidas has a 12 month low of $79.58 and a 12 month high of $125.54.

adidas (OTCMKTS:ADDYY) last posted 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). 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 analysts’ expectations of $5.22 billion.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Capital Square LLC bought a new stake in adidas during the 4th quarter valued at $1,405,000. Fisher Asset Management LLC increased its stake in shares of adidas by 27.5% during the fourth quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock valued at $1,296,000 after buying an additional 2,749 shares during the period. Mar Vista Investment Partners LLC raised its holdings in shares of adidas by 8.0% in the fourth 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 in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in adidas in the fourth quarter worth about $45,000.

adidas Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be given a $0.2394 dividend. The ex-dividend date of this dividend is Friday, May 17th. adidas’s dividend payout ratio (DPR) is presently -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.