Academy Sports and Outdoors (NASDAQ:ASO) Issues FY 2024 Earnings Guidance

Academy Sports and Outdoors (NASDAQ:ASO) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 5.750-6.500 for the period, compared to the consensus EPS estimate of 6.480. The company issued revenue guidance of $5.9 billion-$6.1 billion, compared to the consensus revenue estimate of $6.1 billion. Academy Sports and Outdoors also updated its FY25 guidance to $5.75-6.50 EPS.

Academy Sports and Outdoors Stock Performance

Shares of NASDAQ ASO traded down $0.93 during mid-day trading on Tuesday, reaching $51.71. 1,136,174 shares of the company’s stock were exchanged, compared to its average volume of 1,445,022. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 0.92 and a beta of 1.34. Academy Sports and Outdoors has a 52 week low of $42.83 and a 52 week high of $75.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 0.41. The firm has a 50-day moving average price of $53.19 and a two-hundred day moving average price of $57.91.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings data on Tuesday, June 11th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.11). The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $1.19 EPS. Analysts predict that Academy Sports and Outdoors will post 6.25 EPS for the current year.

Academy Sports and Outdoors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, September 19th. Academy Sports and Outdoors’s payout ratio is 6.73%.

Analyst Upgrades and Downgrades

ASO has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on Academy Sports and Outdoors from $55.00 to $46.00 and set an equal weight rating for the company in a research report on Monday, August 12th. Robert W. Baird lowered their price objective on Academy Sports and Outdoors from $80.00 to $68.00 and set an outperform rating for the company in a research report on Wednesday, June 12th. Morgan Stanley lowered their price objective on Academy Sports and Outdoors from $65.00 to $60.00 and set an equal weight rating for the company in a research report on Wednesday, June 12th. Truist Financial lowered their price objective on Academy Sports and Outdoors from $75.00 to $73.00 and set a buy rating for the company in a research report on Monday, June 10th. Finally, UBS Group downgraded Academy Sports and Outdoors from a buy rating to a neutral rating and lowered their price objective for the company from $81.00 to $58.00 in a research report on Wednesday, June 12th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $64.93.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 625 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total transaction of $33,906.25. Following the completion of the transaction, the director now owns 10,106 shares of the company’s stock, valued at $548,250.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.19% of the stock is owned by insiders.

About Academy Sports and Outdoors

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational retailer in the United States. The company outdoor division comprises camping products, such as coolers and drinkware, and camping accessories and equipment,; fishing products, including marine equipment and fishing rods, reels, and baits and equipment; and hunting products, which includes firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, gun safes, optics, airguns, and hunting equipment.