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.

Amer Sports Stock Up 13.5 %

NYSE AS opened at $23.79 on Friday. The stock has a fifty day moving average of $17.72 and a 200-day moving average of $14.85. The stock has a market capitalization of $12.02 billion and a P/E ratio of -164.43. Amer Sports has a 52 week low of $10.11 and a 52 week high of $23.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87.

Amer Sports (NYSE:AS) last announced its quarterly earnings data 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 positive return on equity of 3.59% and a negative net margin of 0.74%. The business had revenue of $993.80 million during the quarter, compared to analysts’ expectations of $947.59 million. Amer Sports’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities research analysts forecast that Amer Sports will post 0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AS. JPMorgan Chase & Co. lifted their price objective on Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday. Nomura Securities raised Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Evercore ISI reissued an “outperform” rating and issued a $26.00 target price (up from $25.00) on shares of Amer Sports in a research note on Wednesday. TD Cowen boosted their target price on Amer Sports from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citigroup boosted their target price 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 equities 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.43.

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.