Amer Sports (NYSE:AS) Releases 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 (EPS) guidance of 0.400-0.440 for the period, compared to the consensus estimate of 0.400. The company issued revenue guidance of -. Amer Sports also updated its FY24 guidance to $0.40-0.44 EPS.

Amer Sports Stock Performance

AS stock traded up $0.04 during midday trading on Friday, reaching $13.87. 22,176 shares of the company’s stock traded hands, compared to its average volume of 1,591,170. The company has a 50-day simple moving average of $12.17 and a two-hundred day simple moving average of $14.13. Amer Sports has a 1-year low of $10.11 and a 1-year high of $18.23. The company has a current ratio of 1.96, a quick ratio of 0.97 and a debt-to-equity ratio of 0.07.

Amer Sports (NYSE:AS) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share 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 analyst estimates of $947.59 million. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, research analysts predict that Amer Sports will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AS has been the subject of several research reports. Evercore ISI reissued an outperform rating and issued a $21.00 target price on shares of Amer Sports in a research note on Wednesday. UBS Group lifted their target price on Amer Sports from $17.00 to $19.00 and gave the company a buy rating in a research note on Wednesday. Morgan Stanley lowered their target price on Amer Sports from $16.00 to $15.00 and set an equal weight rating for the company in a research note on Thursday, May 23rd. Finally, Wells Fargo & Company lowered their target price 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $18.50.

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.