Amer Sports (NYSE:AS) Releases FY24 Earnings Guidance

Amer Sports (NYSE:AS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.43-0.45 for the period, compared to the consensus earnings per share estimate of $0.44. The company issued revenue guidance of +16-17% yr/yr to $5.07-5.11 billion, compared to the consensus revenue estimate of $5.08 billion. Amer Sports also updated its FY 2024 guidance to 0.430-0.450 EPS.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AS shares. The Goldman Sachs Group boosted their price objective on shares of Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company lowered shares of Amer Sports from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $17.00 to $19.00 in a report on Monday, October 14th. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. UBS Group lifted their price target on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.57.

Amer Sports Stock Up 1.1 %

AS stock opened at $19.54 on Tuesday. The business’s 50-day moving average price is $17.33 and its 200-day moving average price is $14.73. Amer Sports has a twelve month low of $10.11 and a twelve month 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.

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