Amer Sports (NYSE:AS) Updates FY 2024 Earnings Guidance

Amer Sports (NYSE:AS) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.430-0.450 for the period, compared to the consensus earnings per share 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. Amer Sports also updated its FY24 guidance to $0.43-0.45 EPS.

Analysts Set New Price Targets

AS has been the subject of several analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a report on Wednesday, August 21st. Citigroup boosted their target price on Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. UBS Group boosted their target price on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company cut Amer Sports from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $17.00 to $19.00 in a research note on Monday, October 14th. Finally, TD Cowen lifted their price target on Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amer Sports presently has an average rating of “Moderate Buy” and an average target price of $19.57.

Amer Sports Stock Performance

Shares of NYSE AS opened at $20.67 on Wednesday. Amer Sports has a 1-year low of $10.11 and a 1-year high of $20.90. The firm’s 50-day moving average price is $17.44 and its 200-day moving average price is $14.77. The company has a current ratio of 1.87, a quick ratio of 0.81 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.11. The business had revenue of $993.80 million during the quarter, compared to the consensus estimate of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business’s revenue was up 16.0% on a year-over-year basis. On average, equities research analysts expect 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.