Adidas (OTCMKTS:ADDYY) Issues Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Adidas (OTCMKTS:ADDYY) announced its quarterly earnings results on Thursday. The company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.19), Zacks reports. Adidas had a net margin of 5.52% and a return on equity of 22.97%.

Adidas Stock Down 12.1%

Shares of Adidas stock traded down $12.55 during trading hours on Thursday, hitting $90.97. 293,485 shares of the company’s stock traded hands, compared to its average volume of 95,998. Adidas has a twelve month low of $75.19 and a twelve month high of $118.00. The company has a market cap of $32.51 billion, a PE ratio of 20.04, a PEG ratio of 1.34 and a beta of 1.24. The company has a quick ratio of 0.71, a current ratio of 1.35 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $100.03 and a 200-day simple moving average of $90.77.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADDYY. JPMorgan Chase & Co. began coverage on Adidas in a research report on Thursday, July 2nd. They issued an “overweight” rating for the company. Royal Bank Of Canada upgraded Adidas from a “sector perform” rating to an “outperform” rating in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Adidas in a research report on Tuesday, June 30th. Piper Sandler restated an “overweight” rating on shares of Adidas in a report on Wednesday, July 15th. Finally, Zacks Research raised shares of Adidas from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $146.02.

Adidas Company Profile

Adidas AG is a global designer, manufacturer and marketer of athletic footwear, apparel and accessories, headquartered in Herzogenaurach, Germany. Founded by Adolf “Adi” Dassler in 1949, the company has grown into one of the world’s leading sportswear brands, offering products for running, soccer, basketball and a wide range of other sports as well as lifestyle and fashion markets.

Adidas’s product portfolio includes performance footwear, sports apparel, team uniforms, equipment and accessories sold under the Adidas brand and through various collaborations.