Research Analysts Offer Predictions for adidas AG’s FY2024 Earnings (OTCMKTS:ADDYY)

adidas AG (OTCMKTS:ADDYY) – Investment analysts at Wedbush boosted their FY2024 earnings estimates for shares of adidas in a research report issued to clients and investors on Tuesday, April 30th. Wedbush analyst T. Nikic now expects that the company will post earnings of $1.46 per share for the year, up from their prior estimate of $1.41. The consensus estimate for adidas’ current full-year earnings is $1.82 per share.

Several other research analysts have also recently commented on ADDYY. Royal Bank of Canada upgraded shares of adidas from a “sector perform” rating to an “outperform” rating in a report on Monday, February 5th. Morgan Stanley upgraded shares of adidas from an “underweight” rating to an “overweight” rating in a report on Monday, April 15th. Finally, Stifel Nicolaus upgraded shares of adidas from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

adidas Trading Down 0.5 %

Shares of ADDYY stock opened at $119.49 on Thursday. 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 fifty-two week low of $79.58 and a fifty-two week high of $125.54. The company has a 50 day moving average price of $109.96 and a 200 day moving average price of $101.45.

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

Hedge Funds Weigh In On adidas

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in shares of adidas in the 4th quarter valued at about $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 last quarter. Capital Square LLC acquired a new stake in adidas in the 4th quarter valued at about $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 last quarter.

adidas Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be given a dividend of $0.2394 per share. The ex-dividend date is Friday, May 17th. adidas’s 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.