Amer Sports (NYSE:AS) Updates 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 guidance of 0.400-0.400 for the period. The company issued revenue guidance of -. Amer Sports also updated its FY24 guidance to $0.30-0.40 EPS.

Amer Sports Stock Down 7.9 %

AS opened at $14.76 on Wednesday. The stock has a 50-day moving average of $15.03. The company has a quick ratio of 0.80, a current ratio of 1.49 and a debt-to-equity ratio of 477.02. Amer Sports has a 1 year low of $13.10 and a 1 year high of $18.23.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.13 billion. The firm’s revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Amer Sports will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AS. Deutsche Bank Aktiengesellschaft assumed coverage on Amer Sports in a research report on Monday, February 26th. They issued a buy rating and a $20.00 target price for the company. Bank of America boosted their price target on Amer Sports from $18.00 to $19.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Wells Fargo & Company cut their price target on Amer Sports from $19.00 to $17.00 and set an overweight rating for the company in a research note on Thursday, April 25th. Morgan Stanley assumed coverage on Amer Sports in a research note on Monday, February 26th. They set an equal weight rating and a $16.00 price target for the company. Finally, HSBC assumed coverage on Amer Sports in a research note on Monday, February 26th. They set a hold rating and a $16.00 price target for the company. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Amer Sports currently has an average rating of Moderate Buy and an average target price of $18.86.

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.