NEW YORK (TheStreet) -- Nike (NKE) - Get Report stock is down 2.40% to $52.82 on heavy trading volume on Friday afternoon ahead of the sports apparel and footwear company's fiscal 2016 fourth quarter financial results expected after Tuesday's market close.
The Beaverton, OR-based company is expected to deliver a year-over-year decline in earnings per share, but a 6.4% increase in revenue.
Wall Street is anticipating earnings of 48 cents per share on revenue of $8.27 billion for the latest quarter, compared with earnings of 49 cents per share, adjusted for a two-for-one stock split last year, on revenue of $7.78 billion for the same quarter last year.
Jefferies analysts are anticipating Nike to meet these estimates and expect the focus to be on the outlook for fiscal 2017.
"The bigger focus will be on mgmt.'s comments/update on the FY17 outlook, particularly in light of the market's increased fears over competition, pressure in high-end basketball and potential risk to ASPs/futures, and inventory hangover in N. America," Jefferies analysts wrote in a recent note.
Additionally, shares of Nike are being pressured by an overall market selloff caused by the U.K.'s decision to leave the European Union.
So far today, 14.67 million Nike shares have been traded, compared with its average daily volume of 9.74 million shares.
Separately, Nike has a "buy" rating and a letter grade of B at TheStreet Ratings because of the company's impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity.
You can view the full analysis from the report here: NKE
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.