adidas AG Expected to Earn Q2 2024 Earnings of $0.38 Per Share (OTCMKTS:ADDYY)

adidas AG (OTCMKTS:ADDYY) – Investment analysts at Telsey Advisory Group decreased their Q2 2024 earnings estimates for adidas in a research note issued to investors on Wednesday, May 1st. Telsey Advisory Group analyst C. Fernandez now forecasts 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.

ADDYY has been the topic of several other research reports. Stifel Nicolaus upgraded adidas from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Morgan Stanley raised adidas from an “underweight” rating to an “overweight” rating in a report on Monday, April 15th. 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

adidas Stock Down 1.4 %

ADDYY stock opened at $119.74 on Monday. 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 has a twelve month low of $79.58 and a twelve month high of $125.54. The business has a 50 day simple moving average of $111.45 and a 200-day simple moving average of $102.34.

adidas (OTCMKTS:ADDYY) last announced its earnings results on Wednesday, March 13th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.36). The firm 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%.

adidas Cuts Dividend

The firm also recently declared 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 Investors Weigh In On adidas

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of adidas during the 4th quarter worth approximately $45,000. Fisher Asset Management LLC increased 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 purchasing an additional 2,749 shares in the last quarter. Capital Square LLC acquired a new position in adidas during the fourth quarter worth $1,405,000. Finally, Mar Vista Investment Partners LLC boosted its position in adidas by 8.0% during the fourth quarter. Mar Vista Investment Partners LLC now owns 27,044 shares of the company’s stock worth $2,749,000 after purchasing an additional 2,000 shares in the last quarter.

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.