Amer Sports (NYSE:AS) Updates FY24 Earnings Guidance

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

Amer Sports Trading Up 13.5 %

NYSE AS opened at $23.79 on Friday. The company has a market capitalization of $12.02 billion and a price-to-earnings ratio of -164.43. The company’s fifty day moving average price is $17.72 and its two-hundred day moving average price is $14.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81. Amer Sports has a 12 month low of $10.11 and a 12 month high of $23.99.

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. Amer Sports had a positive return on equity of 3.59% and a negative net margin of 0.74%. The business had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. 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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AS has been the subject of several recent research reports. Wells Fargo & Company upped their target price on Amer Sports from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup increased their price objective on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their target price on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird raised their price target on shares of Amer Sports from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Nomura Securities upgraded Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.43.

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.