Nike Q4 Preview: Stock At 11-Year Lows, Market Expert Says More Pain Ahead — ‘May Have To Wait Much Longer’

Nike Inc (NYSE: NKE ) finds itself with shares trading at 11-year lows ahead of fourth-quarter financial results, which are set for Tuesday after market close.

Here’s a look at the apparel company’s earnings estimates, what experts are saying ahead of the report and key items to watch.

Nike Q4 Earnings Estimates Analysts expect Nike Q4 revenue of $10.86 billion, down from $11.1 billion in the year-ago quarter, according to Pro data.

The company has topped revenue estimates for six straight quarters and seven of the last 10 quarters overall.

Analysts expect quarterly earnings of 12 cents per share, down from 14 cents per share a year ago.

Nike has beaten earnings-per-share estimates for 11 consecutive quarters.

Read Also: Nike Analyst Turns Bearish As Recovery Takes Longer Than Expected What Nike Experts Are Saying JPMorgan analyst Matthew Boss lowered the price target on Nike stock from $52 to $47 ahead of the earnings report, while maintaining a Neutral rating.

The analyst lowers estimates for the quarter and said the results will likely be "in line" with previous guidance.

Boss said comments from Nike’s CEO Elliott Hill for a recent Financial Times article show the restructuring could be taking longer than hoped. "Our recent fieldwork points to a sequential deterioration in demand in April/May," Boss said.

Freedom Capital Markets Chief Market Strategist Jay Woods said Nike shareholders "are still waiting for that turnaround." "Will management show progress when it comes to new product launches and reconnecting with consumers?" Woods said in a weekly newsletter.

The market expert said investors should watch for cost cuts, China growth and inventory figures in the fourth quarter. "Expectations have already been lowered, so this quarter may be less about the numbers themselves and more about whether management can convince investors the stock is ready to run again." Woods said Nike stock broke the $42 level of support ahead of earnings, a level it would need to recapture after earnings to push to another support level of $46. "Those longer-term shareholders hoping for a quick fix may have to wait much longer for this trend to change." Here are recent Nike analyst ratings and their price targets: Deutsche Bank: Maintained Hold rating, lowered price target from $51 to $43 Oppenheimer: Maintained Outperform rating, lowered price target from $120 to $60 KeyBanc: Downgraded from Overweight to Sector Weight, no price target BTIG: Maintained Bu rating, lowered price target from $75 to $55 Key Items to Watch As mentioned by Woods above, China, inventory and cost cuts could be three key areas for investors to watch in Nike’s report Tuesday and on the conference call.

In the third quarter, revenue was flat on a year-over-year basis, with North America sales growth of 3% helping to offset a 7% decline for the Greater China region.

Other international regions posted year-over-year growth in the third quarter, a key area to watch on Tuesday.

Expectations are low for Nike heading into the earnings print, which could make the stock ripe for a rally if the company beats and provides strong guidance.

With shares at 11-year lows, the stock has sold off and many investors are heading to the sidelines with the turnaround taking longer than expected.

Price Action Nike stock is up 0.5% to $40.96 on Monday versus a 52-week trading range of $40.00 to $80.17.

Its stock price is down 35.2% year-to-date in 2026 and down over 40% in the last 52 weeks.

Read Also: Nike Shares In Focus As Company Names New CFO, Analysts Weigh In Ahead Of Q4 Earnings Image via Shutterstock/ slvn_an