Q3 2024 Earnings Forecast for adidas AG Issued By Telsey Advisory Group (OTCMKTS:ADDYY)

adidas AG (OTCMKTS:ADDYY) – Analysts at Telsey Advisory Group reduced their Q3 2024 earnings per share estimates for adidas in a report released on Wednesday, April 17th. Telsey Advisory Group analyst C. Fernandez now expects that the company will post earnings per share of $1.30 for the quarter, down from their previous estimate of $1.33. The consensus estimate for adidas’ current full-year earnings is $1.81 per share. Telsey Advisory Group also issued estimates for adidas’ FY2026 earnings at $5.41 EPS.

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 the consensus estimate of $5.22 billion.

Several other analysts also recently issued reports on ADDYY. Morgan Stanley raised adidas from an “underweight” rating to an “overweight” rating in a research note on Monday, April 15th. Royal Bank of Canada raised adidas from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

adidas Trading Down 0.3 %

OTCMKTS ADDYY opened at $119.40 on Friday. The stock’s 50-day moving average price is $105.62 and its 200-day moving average price is $99.41. The company has a quick ratio of 0.66, a current ratio of 1.22 and a debt-to-equity ratio of 0.49. adidas has a 52 week low of $79.58 and a 52 week high of $120.75.

adidas Cuts Dividend

The business also recently announced 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 is Friday, May 17th. adidas’s dividend payout ratio (DPR) is -109.09%.

Hedge Funds Weigh In On adidas

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mar Vista Investment Partners LLC boosted its holdings in 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 during the period. Capital Square LLC purchased a new position in adidas during the 4th quarter valued at $1,405,000. Fisher Asset Management LLC boosted its holdings in adidas by 27.5% during 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 period. Rhumbline Advisers purchased a new position in adidas during the 2nd quarter valued at $809,000. Finally, Comerica Bank purchased a new position in adidas during the 2nd quarter valued at $247,000.

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.