Amer Sports (NYSE:AS) Updates FY24 Earnings Guidance

Amer Sports (NYSE:AS) issued an update on its FY24 earnings guidance on Tuesday morning. 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 Stock Up 1.3 %

Shares of NYSE:AS opened at $20.94 on Thursday. The business’s 50 day moving average price is $17.57 and its 200-day moving average price is $14.81. Amer Sports has a 1 year low of $10.11 and a 1 year high of $21.69. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.58.

Amer Sports (NYSE:AS) last issued its earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.59%. The company had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts anticipate that Amer Sports will post 0.44 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on AS. Nomura Securities raised Amer Sports to a “strong-buy” rating in a report on Tuesday, September 24th. TD Cowen upped their price target on Amer Sports from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI reissued an “outperform” rating and set a $26.00 target price (up previously from $25.00) on shares of Amer Sports in a research note on Wednesday. Citigroup increased their price target on shares of Amer Sports from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company boosted their target price on Amer Sports from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.43.

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.