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.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AS. Citigroup raised their price target on shares of Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. TD Cowen raised their price target on shares of Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Evercore ISI reissued an “outperform” rating and set a $21.00 price objective on shares of Amer Sports in a report on Wednesday, August 21st. Wells Fargo & Company downgraded shares of Amer Sports from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $17.00 to $19.00 in a research report on Monday, October 14th. Finally, Nomura Securities upgraded 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.57.

Amer Sports Trading Up 1.1 %

Shares of Amer Sports stock opened at $19.54 on Tuesday. Amer Sports has a fifty-two week low of $10.11 and a fifty-two week high of $20.68. 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 company has a fifty day moving average of $17.33 and a 200 day moving average of $14.73.

Amer Sports (NYSE:AS) last released its 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 return on equity of 0.63% and a negative net margin of 2.79%. The firm had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts forecast that Amer Sports will post 0.44 earnings per share for the current fiscal 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.