Amer Sports (NYSE:AS) Updates FY24 Earnings Guidance

Amer Sports (NYSE:AS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.43-0.45 for the period, compared to the consensus estimate of $0.44. The company issued revenue guidance of +16-17% yr/yr to $5.07-5.11 billion, compared to the consensus revenue estimate of $5.08 billion. Amer Sports also updated its FY 2024 guidance to 0.430-0.450 EPS.

Amer Sports Trading Up 13.5 %

NYSE:AS opened at $23.79 on Friday. The stock has a market capitalization of $12.02 billion and a price-to-earnings ratio of -164.43. Amer Sports has a 1 year low of $10.11 and a 1 year high of $23.99. The stock has a fifty day moving average price of $17.72 and a two-hundred day moving average price of $14.85. 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 (NYSE:AS) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.59%. The firm had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. The business’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Amer Sports will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Evercore ISI restated an “outperform” rating and issued a $26.00 price target (up previously from $25.00) on shares of Amer Sports in a research report on Wednesday. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Citigroup lifted their price objective on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, The Goldman Sachs Group boosted their price target on Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.