Amer Sports (NYSE:AS) Announces Earnings Results, Meets Expectations

Amer Sports (NYSE:AS) posted its quarterly earnings data on Tuesday. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17, Zacks reports. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.60 billion. The company’s quarterly revenue was up 23.2% on a year-over-year basis.

Amer Sports Stock Up 1.1 %

AS stock opened at $28.91 on Wednesday. The stock has a 50-day simple moving average of $30.00 and a two-hundred day simple moving average of $22.42. Amer Sports has a twelve month low of $10.11 and a twelve month high of $34.00. The firm has a market capitalization of $15.80 billion and a PE ratio of -206.49. The company has a quick ratio of 0.77, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AS. TD Cowen boosted their price target on shares of Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Wells Fargo & Company boosted their target price on shares of Amer Sports from $20.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. raised their price target on shares of Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Citigroup upped their price objective on Amer Sports from $24.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Sanford C. Bernstein assumed coverage on Amer Sports in a research report on Thursday, February 13th. They issued an “outperform” rating and a $38.00 target price for the company. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amer Sports has a consensus rating of “Moderate Buy” and an average price target of $28.64.

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.