Amer Sports (NYSE:AS) Posts Earnings Results, Meets Expectations

Amer Sports (NYSE:AS) posted its earnings results on Tuesday. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17, Zacks reports. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm’s revenue was up 23.2% on a year-over-year basis.

Amer Sports Trading Up 1.1 %

Shares of AS stock opened at $28.91 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The business has a 50-day moving average of $30.00 and a 200 day moving average of $22.42. The stock has a market capitalization of $15.80 billion and a PE ratio of -206.49. Amer Sports has a 1-year low of $10.11 and a 1-year high of $34.00.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AS. TD Cowen lifted their price target on Amer Sports from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Citigroup boosted their price target on shares of Amer Sports from $24.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Robert W. Baird raised their price objective on shares of Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Evercore ISI lifted their price objective on shares of Amer Sports from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group increased their target price on Amer Sports from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.64.

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.