While the Q3 calendar period is not over yet some companies, that are not following the strict calendar year, are still reporting earnings. Nike reports FY20 Q1 earnings on Tuesday with analysts expecting EPS of $0.701 up from $0.67 a year ago. Analysts expect revenue to continue growing by high-single-digit driven by expansion in its woman’s business and e-commerce. Nike’s margins have lately been under pressure so there will be a great focus on this issue from analysts on the conference call. Nike’s valuation on EV/EBITDA is 24.9x which is a steep premium to the S&P 500 ratio of 13.4x.
From a macro point of view the FY19 Q4 earnings release from Micron Technology is of importance as the memory manufacturer sits in the middle of the global economic slowdown and escalating trade war. Analysts expect Micron Technology to deliver EPS of $0.478 down from $3.53 a whopping decline of 86.5%. Analysts are split on the company’s outlook with the current price at the current consensus price target.