Amer Sports (NYSE:AS) Releases FY 2024 Earnings Guidance

Amer Sports (NYSE:AS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.430-0.450 for the period, compared to the consensus estimate of 0.410. The company issued revenue guidance of $5.1 billion-$5.1 billion, compared to the consensus revenue estimate of $5.1 billion. Amer Sports also updated its FY24 guidance to $0.43-0.45 EPS.

Amer Sports Trading Up 1.3 %

NYSE:AS opened at $20.94 on Thursday. The company has a 50-day moving average of $17.57 and a 200-day moving average of $14.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87. Amer Sports has a twelve month low of $10.11 and a twelve month high of $21.69.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.11. The firm had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities analysts expect that Amer Sports will post 0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AS shares. Evercore ISI reaffirmed an “outperform” rating and set a $26.00 target price (up from $25.00) on shares of Amer Sports in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen lifted their target price on Amer Sports from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group raised their price target on shares of Amer Sports from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Amer Sports from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amer Sports currently has a consensus rating of “Moderate Buy” and an average price target of $21.43.

About Amer Sports

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.