Brokers Issue Forecasts for adidas AG’s FY2024 Earnings (OTCMKTS:ADDYY)

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

adidas (OTCMKTS:ADDYY) last released its quarterly earnings results 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 net margin of 0.33% and a negative return on equity of 2.21%. The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.22 billion.

ADDYY has been the topic of several other reports. Morgan Stanley raised adidas from an “underweight” rating to an “overweight” rating in a report on Monday. Royal Bank of Canada upgraded shares of adidas from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 5th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

adidas Stock Performance

Shares of OTCMKTS:ADDYY opened at $119.73 on Friday. The business’s 50 day simple moving average is $105.09 and its 200 day simple moving average is $99.18. adidas has a 1 year low of $79.58 and a 1 year high of $120.75. 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 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 paid a $0.2394 dividend. The ex-dividend date is Friday, May 17th. adidas’s payout ratio is -109.09%.

Hedge Funds Weigh In On adidas

A number of institutional investors have recently modified their holdings of ADDYY. Capital Square LLC bought a new position in adidas in the 4th quarter valued at approximately $1,405,000. Rhumbline Advisers bought a new position in shares of adidas in the 2nd quarter valued at $809,000. Mar Vista Investment Partners LLC boosted its holdings in shares of adidas by 12.6% during the 1st quarter. Mar Vista Investment Partners LLC now owns 35,590 shares of the company’s stock valued at $4,196,000 after acquiring an additional 3,993 shares in the last quarter. Fisher Asset Management LLC grew its position in adidas by 27.5% during the 4th quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock worth $1,296,000 after acquiring an additional 2,749 shares during the last quarter. Finally, Comerica Bank acquired a new position in adidas in the 2nd quarter worth about $247,000.

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.