Key Takeaways

Nike ( NKE ) is set to report fiscal second-quarter earnings after the market closes Thursday, its first quarterly results since its new CEO , company veteran Elliott Hill, took over in October.

Analysts are mostly bullish on Nike's stock, with 10 analysts tracked by Visible Alpha rating it as a "buy," nine analysts with "holds" and one "sell." With an average price target near $89, analysts expect Nike to rise about 15% from Friday's close—though that would still be below the nearly $109 level where it started the year.

Nike is projected to report $12.18 billion in revenue for the second quarter of fiscal 2025, a 9% decline from the same time last year, according to estimates compiled by Visible Alpha. The apparel maker is expected to post net income of $977.7 million, a decline of nearly 40% from $1.6 billion a year ago.

First Quarter Since CEO Hill Took The Helm

Hill took over the top job in October. Nike is expected to offer new guidance for the fiscal year and set a new date for its annual investor day when it reports in Thursday's earnings. The company suspended its outlook and postponed the investor event initially scheduled for November when it reported first quarter results, as Hill was weeks away from assuming the role.

Nike's stock has slid as sales have declined and it has looked to cut costs over the past year . Several analysts have applauded the return of Hill, a Nike veteran, to the company, saying it could boost Nike's turnaround effort.

The company has faced growing competition from smaller brands both domestically and in other vital markets like China, and said in recent quarters that it plans to shift its product lineup to focus more on new products and ideas.

Nike stock, which slipped a bit less than 1% on Friday, is down nearly 30% this year so far.

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