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

adidas AG (OTCMKTS:ADDYY) – Investment analysts at Telsey Advisory Group upped their Q1 2024 earnings estimates for adidas in a report released on Wednesday, April 17th. Telsey Advisory Group analyst C. Fernandez now forecasts 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.

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

adidas Trading Down 0.3 %

OTCMKTS:ADDYY opened at $119.40 on Monday. adidas has a twelve month low of $79.58 and a twelve month high of $120.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.66 and a current ratio of 1.22. The company has a 50-day moving average of $105.62 and a 200-day moving average of $99.61.

adidas (OTCMKTS:ADDYY) last issued its earnings results on Wednesday, March 13th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.22 billion.

adidas Cuts Dividend

The company also recently announced 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 of this dividend is Friday, May 17th. adidas’s dividend payout ratio is presently -109.09%.

Institutional Investors Weigh In On adidas

Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of adidas by 111.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,283 shares of the company’s stock valued at $151,000 after buying an additional 675 shares during the last quarter. Mar Vista Investment Partners LLC increased its stake in shares of adidas by 12.6% in 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 last quarter. Rhumbline Advisers bought a new stake in shares of adidas in the 2nd quarter valued at about $809,000. Comerica Bank bought a new stake in shares of adidas in the 2nd quarter valued at about $247,000. Finally, Capital Square LLC bought a new stake in shares of adidas in the 4th quarter valued at about $1,405,000.

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.