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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AS shares. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. The Goldman Sachs Group boosted their price objective on shares of Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, October 21st. Evercore ISI reissued an “outperform” rating and issued a $21.00 price objective on shares of Amer Sports in a report on Wednesday, August 21st. Wells Fargo & Company cut shares of Amer Sports from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $17.00 to $19.00 in a research report on Monday, October 14th. Finally, UBS Group upped their price objective 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 5th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.57.

Amer Sports Stock Up 1.1 %

Shares of Amer Sports stock opened at $19.54 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81. The company’s fifty day simple moving average is $17.33 and its two-hundred day simple moving average is $14.73. Amer Sports has a 12-month low of $10.11 and a 12-month high of $20.68.

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, topping analysts’ consensus estimates of ($0.06) by $0.11. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The company had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The company’s revenue was up 16.0% on a year-over-year basis. As a group, analysts expect that Amer Sports will post 0.44 EPS for the current year.

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.