Amer Sports (NYSE:AS) Updates FY24 Earnings Guidance

Amer Sports (NYSE:AS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.43-0.45 for the period, compared to the consensus 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.

Analyst Ratings Changes

AS has been the subject of a number of research analyst reports. Citigroup increased their target price on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Evercore ISI reiterated an “outperform” rating and issued a $21.00 target price on shares of Amer Sports in a report on Wednesday, August 21st. Wells Fargo & Company cut Amer Sports from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $17.00 to $19.00 in a research report on Monday, October 14th. Finally, The Goldman Sachs Group boosted their price objective on Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on 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 5.8 %

Shares of AS opened at $20.67 on Wednesday. The business’s fifty day moving average price is $17.44 and its two-hundred 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 has a 52 week low of $10.11 and a 52 week high of $20.90.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. The firm 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 company’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities analysts forecast that Amer Sports will post 0.44 EPS for the current year.

Amer Sports Company Profile

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.