Amer Sports (NYSE:AS) Issues FY24 Earnings Guidance

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

AS has been the topic of several research analyst reports. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research report on Tuesday, September 24th. Evercore ISI restated an “outperform” rating and set a $21.00 price objective on shares of Amer Sports in a research report on Wednesday, August 21st. Wells Fargo & Company cut Amer Sports from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $17.00 to $19.00 in a report on Monday, October 14th. The Goldman Sachs Group increased their target price on Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Citigroup boosted their price target on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.57.

Amer Sports Stock Performance

Shares of NYSE:AS opened at $19.54 on Tuesday. The business’s 50 day moving average is $17.33 and its 200 day moving average is $14.73. Amer Sports has a 12-month low of $10.11 and a 12-month high of $20.68. 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 posted its earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.11. The firm had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, equities analysts predict that Amer Sports will post 0.44 EPS for the current fiscal year.

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.