Amer Sports (NYSE:AS) Issues FY24 Earnings Guidance

Amer Sports (NYSE:AS) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $0.30-0.40 for the period, compared to the consensus EPS 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 Ratings Changes

AS has been the subject of several research analyst reports. Robert W. Baird initiated coverage on Amer Sports in a report on Monday, February 26th. They issued an outperform rating and a $20.00 price objective for the company. TD Cowen initiated coverage on Amer Sports in a report on Monday, February 26th. They issued an outperform rating and a $18.00 price objective for the company. Citigroup initiated coverage on Amer Sports in a report on Monday, February 26th. They issued a buy rating and a $19.00 price objective for the company. UBS Group started coverage on Amer Sports in a report on Monday, February 26th. They issued a buy rating and a $23.00 price objective for the company. Finally, Evercore ISI started coverage on Amer Sports in a report on Monday, February 26th. They set an outperform rating and a $21.00 target price for the company. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $18.79.

Amer Sports Price 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 company has a current ratio of 1.49, a quick ratio of 0.80 and a debt-to-equity ratio of 477.02. The company’s fifty day simple moving average is $14.99.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.13 billion. Amer Sports’s revenue for the quarter was up 12.6% compared to the same quarter last year. Analysts predict that Amer Sports will post 0.4 earnings per share for the current fiscal 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.