Amer Sports (NYSE:AS) Releases Q3 Earnings Guidance

Amer Sports (NYSE:AS) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.08-0.10 for the period, compared to the consensus estimate of $0.14. Amer Sports also updated its FY 2024 guidance to 0.400-0.440 EPS.

Amer Sports Stock Performance

Shares of NYSE AS opened at $14.15 on Thursday. 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. The company’s 50-day moving average is $12.18 and its 200 day moving average is $14.13.

Amer Sports (NYSE:AS) last announced 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. The company had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, analysts anticipate that Amer Sports will post 0.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AS shares. Evercore ISI reiterated an outperform rating and set a $21.00 price target on shares of Amer Sports in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of Amer Sports from $19.00 to $17.00 and set an overweight rating on the stock in a report on Thursday, April 25th. Morgan Stanley cut their price objective on shares of Amer Sports from $16.00 to $15.00 and set an equal weight rating on the stock in a report on Thursday, May 23rd. Finally, UBS Group upped their price objective on shares of Amer Sports from $17.00 to $19.00 and gave the stock a buy rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.