Amer Sports (NYSE:AS) Releases FY24 Earnings Guidance

Amer Sports (NYSE:ASGet Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.30-0.40 for the period, compared to the consensus estimate of $0.39. The company issued revenue guidance of +Mid-teens %, compared to the consensus revenue estimate of $4.97 billion. Amer Sports also updated its FY 2024 guidance to 0.400-0.400 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Amer Sports from $16.00 to $15.00 and set an equal weight rating for the company in a report on Thursday. TD Cowen started coverage on Amer Sports in a report on Monday, February 26th. They issued an outperform rating and a $18.00 target price for the company. Bank of America upped their price objective on Amer Sports from $18.00 to $19.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Sanford C. Bernstein reiterated a market perform rating and issued a $16.00 price objective (down previously from $18.50) on shares of Amer Sports in a research note on Monday, April 8th. Finally, UBS Group started coverage on Amer Sports in a research note on Monday, February 26th. They issued a buy rating and a $23.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $18.79.

View Our Latest Stock Report on AS

Amer Sports Stock Performance

NYSE:AS opened at $14.92 on Friday. Amer Sports has a 1 year low of $13.10 and a 1 year high of $18.23. The stock’s fifty day moving average is $14.99. The company has a current ratio of 1.49, a quick ratio of 0.80 and a debt-to-equity ratio of 477.02.

Amer Sports (NYSE:ASGet Free Report) last released its quarterly earnings results on Tuesday, May 21st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.13 billion. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, analysts expect that Amer Sports will post 0.4 EPS for the current year.

About Amer Sports

(Get Free Report)

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.

Further Reading

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