Nike Inc ( NKE ) shares are in the spotlight Tuesday ahead of earnings after the bell. Here's what you need to know before the report.

What To Know: Nike ( NKE ) is due to report fiscal first-quarter earnings results after the market close on Tuesday. The athletic footwear and apparel company is expected to report earnings of 52 cents per share and revenue of $11.646 billion, according to estimates from Benzinga Pro.

Nike ( NKE ) turned in mixed results in its most recent quarter, reporting revenue of $12.6 billion versus estimates of $12.9 billion and adjusted earnings of $1.01 per share versus estimates of 85 cents per share.

Shares traded lower following the report as Nike ( NKE ) highlighted near-term challenges and said it planned to take actions to increase its competitiveness and drive profitable long-term growth. The stock hit 52-week lows in the days that followed as analysts weighed comments about headwinds continuing into fiscal 2025.

Nike ( NKE ) stock then bounced off the lows in mid-August when Bill Ackman's Pershing Square disclosed a new stake in Nike ( NKE ). Shares continued to trend higher after the company announced a CEO transition last month. CEO John Donahoe will retire from his role as president and CEO of Nike ( NKE ), effective Oct. 13. Longtime Nike veteran Elliott Hill will take over on Oct. 14. 

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Several analysts came out with updates following the CEO change announcement. Analysts have continued to weigh in on Nike ( NKE ) leading up to earnings.

Telsey Advisory Group maintained an Outperform with a price target of $100, JPMorgan maintained a Neutral rating and price target of $80, BofA Securities reiterated Buy and maintained a price target of $104, Morgan Stanley maintained an Equal-Weight rating and raised its price target to $82 and Truist Securities reiterated Hold with a price target of $85.

A day ahead of Nike’s earnings report, Jefferies analyst Randal Konik maintained Nike ( NKE ) with a Hold and raised the price target from $80 to $85.

“We believe investor expectations for F1Q are fairly low, as foot/web traffic data has remained soft and competitors continue to gain share,” the Jefferies analyst said.

NKE Price Action: Nike ( NKE ) shares were up 0.72% at $89.02 at the time of publication, according to Benzinga Pro.