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 $0.43-0.45 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

AS has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price target on Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Morgan Stanley increased their price target on Amer Sports from $15.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup lifted their price objective on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. TD Cowen boosted their price target on shares of Amer Sports from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, UBS Group boosted their target price on Amer Sports from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.43.

Amer Sports Price Performance

AS opened at $20.94 on Thursday. The stock’s 50 day moving average price is $17.57 and its 200-day moving average price is $14.81. Amer Sports has a 52-week low of $10.11 and a 52-week high of $21.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81.

Amer Sports (NYSE:AS) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.11. Amer Sports had a negative net margin of 0.74% and a positive return on equity of 3.59%. The company had revenue of $993.80 million for the quarter, compared to analysts’ expectations of $947.59 million. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Analysts forecast that Amer Sports will post 0.44 EPS for the current 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.