Academy Sports and Outdoors (NASDAQ:ASO) Releases FY23 Earnings Guidance

Academy Sports and Outdoors (NASDAQ:ASOGet Rating) updated its FY23 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $6.55-7.25 for the period, compared to the consensus estimate of $6.93. The company issued revenue guidance of $6.43-6.63 billion, compared to the consensus revenue estimate of $6.66 billion.Academy Sports and Outdoors also updated its FY 2022 guidance to $6.55-$7.25 EPS.

Academy Sports and Outdoors stock traded up $1.71 during midday trading on Tuesday, reaching $37.28. The company had a trading volume of 26,016 shares, compared to its average volume of 3,079,992. The company has a market capitalization of $3.22 billion, a P/E ratio of 5.00, a P/E/G ratio of 0.35 and a beta of 1.65. Academy Sports and Outdoors has a 12-month low of $25.10 and a 12-month high of $51.08. The firm’s fifty day simple moving average is $36.92 and its 200-day simple moving average is $38.05. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.52 and a quick ratio of 0.48.

Academy Sports and Outdoors (NASDAQ:ASOGet Rating) last announced its quarterly earnings results on Tuesday, March 29th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.25. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. Academy Sports and Outdoors had a net margin of 9.91% and a return on equity of 51.14%. The business’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. On average, analysts expect that Academy Sports and Outdoors will post 6.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Shareholders of record on Thursday, June 16th will be given a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $0.30 annualized dividend and a yield of 0.80%. Academy Sports and Outdoors’s dividend payout ratio is presently 4.21%.

A number of brokerages recently weighed in on ASO. Wells Fargo & Company reduced their price target on shares of Academy Sports and Outdoors from $62.00 to $58.00 and set an overweight rating for the company in a research report on Thursday, March 24th. The Goldman Sachs Group reduced their price target on shares of Academy Sports and Outdoors from $61.00 to $49.00 and set a buy rating for the company in a research report on Wednesday, May 4th. Zacks Investment Research cut shares of Academy Sports and Outdoors from a buy rating to a hold rating in a research report on Wednesday, June 1st. Stephens lifted their price objective on shares of Academy Sports and Outdoors from $68.00 to $70.00 and gave the company an overweight rating in a research note on Wednesday, March 30th. Finally, Loop Capital lifted their price objective on shares of Academy Sports and Outdoors from $43.00 to $50.00 in a research note on Wednesday, March 30th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Academy Sports and Outdoors presently has a consensus rating of Buy and an average price target of $54.08.

Institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors lifted its holdings in shares of Academy Sports and Outdoors by 55.0% during the first quarter. Captrust Financial Advisors now owns 1,006 shares of the company’s stock worth $40,000 after buying an additional 357 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in Academy Sports and Outdoors by 1,620.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,440 shares of the company’s stock valued at $135,000 after acquiring an additional 3,240 shares during the period. PNC Financial Services Group Inc. grew its position in Academy Sports and Outdoors by 42.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,798 shares of the company’s stock valued at $190,000 after acquiring an additional 1,419 shares during the period. Dimensional Fund Advisors LP bought a new stake in Academy Sports and Outdoors in the third quarter valued at $394,000. Finally, Stifel Financial Corp bought a new stake in Academy Sports and Outdoors in the fourth quarter valued at $397,000. Institutional investors and hedge funds own 89.94% of the company’s stock.

Academy Sports and Outdoors Company Profile (Get Rating)

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; team sports equipment, including baseball, football, basketball, soccer, golf, racket sports, and volleyball; fitness equipment and accessories, and nutrition supplies; and patio furniture, outdoor cooking, wheeled goods, trampolines, playsets, watersports, and pet equipment, as well as electronics products, watches, consumables, batteries, etc.

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