Nike (NKE) closed the most recent trading day at $158.76, moving -0.48% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.58%.Heading into today, shares of the athletic apparel maker had lost 7.45% over the past month, lagging the Consumer Discretionary sector's gain of 1.8% and the S&P 500's gain of 0.16% in that time.Wall Street will be looking for positivity from NKE as it approaches its next earnings report date. This is expected to be September 23, 2021. On that day, NKE is projected to report earnings of $1.12 per share, which would represent year-over-year growth of 17.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.56 billion, up 18.54% from the year-ago period.NKE's full-year Zacks Consensus Estimates are calling for earnings of $4.30 per share and revenue of $50.25 billion. These results would represent year-over-year changes of +20.79% and +12.83%, respectively.Any recent changes to analyst estimates for NKE should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.17% higher within the past month. NKE currently has a Zacks Rank of #2 (Buy).Investors should also note NKE's current valuation metrics, including its Forward P/E ratio of 37.07. Its industry sports an average Forward P/E of 16.51, so we one might conclude that NKE is trading at a premium comparatively.Also, we should mention that NKE has a PEG ratio of 2.43. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Shoes and Retail Apparel industry currently had an average PEG ratio of 1.01 as of yesterday's close.The Shoes and Retail Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 10% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NIKE, Inc. (NKE): Free Stock Analysis Report To read this article on Zacks.com click here.