Amer Sports (NYSE:AS) Updates FY 2024 Earnings Guidance

Amer Sports (NYSE:AS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.430-0.450 for the period, compared to the consensus earnings per share estimate of 0.410. The company issued revenue guidance of $5.1 billion-$5.1 billion, compared to the consensus revenue estimate of $5.1 billion. Amer Sports also updated its FY24 guidance to $0.43-0.45 EPS.

Analysts Set New Price Targets

A number of research analysts have recently commented on AS shares. Nomura Securities raised shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Company cut shares of Amer Sports from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $17.00 to $19.00 in a research report on Monday, October 14th. Citigroup raised their target price on shares of Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI reiterated an “outperform” rating and issued a $21.00 price target on shares of Amer Sports in a report on Wednesday, August 21st. Finally, The Goldman Sachs Group boosted their target price on shares of Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Four research 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 stock. Based on data from MarketBeat.com, Amer Sports currently has a consensus rating of “Moderate Buy” and an average target price of $19.57.

Amer Sports Stock Up 5.8 %

AS stock opened at $20.67 on Wednesday. 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 has a one year low of $10.11 and a one year high of $20.90. The firm has a 50-day moving average of $17.44 and a two-hundred day moving average of $14.77.

Amer Sports (NYSE:AS) last announced its quarterly 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. 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 analyst estimates of $947.59 million. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, research analysts expect that Amer Sports will post 0.44 EPS for the current 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.