Amer Sports (NYSE:AS) Issues 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.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AS shares. Citigroup increased their price target on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Evercore ISI restated an “outperform” rating and issued a $21.00 price target on shares of Amer Sports in a report on Wednesday, August 21st. Wells Fargo & Company lowered shares of Amer Sports from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $17.00 to $19.00 in a report on Monday, October 14th. The Goldman Sachs Group lifted their price target on shares of Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Nomura Securities raised Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amer Sports presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $19.54 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average price is $17.33 and its 200-day moving average price is $14.73. Amer Sports has a 52-week low of $10.11 and a 52-week high of $20.68.

Amer Sports (NYSE:AS) last released 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. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts predict that Amer Sports will post 0.44 EPS for the current year.

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.