Telsey Advisory Group Comments on adidas AG’s Q1 2024 Earnings (OTCMKTS:ADDYY)

adidas AG (OTCMKTS:ADDYY) – Telsey Advisory Group boosted their Q1 2024 earnings per share estimates for adidas in a report issued on Wednesday, April 17th. Telsey Advisory Group analyst C. Fernandez now expects that the company will post earnings of $0.66 per share for the quarter, up from their prior forecast of $0.16. The consensus estimate for adidas’ current full-year earnings is $1.82 per share. Telsey Advisory Group also issued estimates for adidas’ Q2 2024 earnings at $0.39 EPS, Q4 2024 earnings at ($0.34) EPS, FY2024 earnings at $2.01 EPS and FY2025 earnings at $3.78 EPS.

adidas (OTCMKTS:ADDYY) last released its 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). The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.22 billion. adidas had a negative net margin of 0.33% and a negative return on equity of 2.21%.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley raised shares of adidas from an “underweight” rating to an “overweight” rating in a research report on Monday, April 15th. Royal Bank of Canada upgraded adidas from a “sector perform” rating to an “outperform” rating in a report on Monday, February 5th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, adidas has a consensus rating of “Buy”.

adidas Stock Performance

Shares of ADDYY opened at $119.66 on Monday. adidas has a 12 month low of $79.58 and a 12 month high of $120.75. The firm has a fifty day simple moving average of $106.14 and a 200 day simple moving average of $99.87. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.66 and a current ratio of 1.22.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capital Square LLC bought a new position in adidas during the 4th quarter worth $1,405,000. Fisher Asset Management LLC raised its position in shares of adidas by 27.5% in the fourth quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock valued at $1,296,000 after buying an additional 2,749 shares in the last quarter. Mar Vista Investment Partners LLC raised its position in shares of adidas by 8.0% in the fourth quarter. Mar Vista Investment Partners LLC now owns 27,044 shares of the company’s stock valued at $2,749,000 after buying an additional 2,000 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in adidas during the fourth quarter worth approximately $45,000.

adidas Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be given a $0.2394 dividend. The ex-dividend date of this dividend is Friday, May 17th. adidas’s payout ratio is -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.