Zacks: Brokerages Expect Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Will Announce Quarterly Sales of $1.78 Billion

Brokerages expect that Academy Sports and Outdoors, Inc. (NASDAQ:ASOGet Rating) will announce sales of $1.78 billion for the current quarter, according to Zacks. Three analysts have made estimates for Academy Sports and Outdoors’ earnings. The lowest sales estimate is $1.72 billion and the highest is $1.84 billion. Academy Sports and Outdoors reported sales of $1.79 billion in the same quarter last year, which indicates a negative year over year growth rate of 0.6%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Academy Sports and Outdoors will report full-year sales of $6.67 billion for the current financial year, with estimates ranging from $6.63 billion to $6.71 billion. For the next year, analysts forecast that the business will report sales of $7.06 billion, with estimates ranging from $7.02 billion to $7.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Academy Sports and Outdoors.

Academy Sports and Outdoors (NASDAQ:ASOGet Rating) last issued its quarterly earnings data on Tuesday, June 7th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.41 by $0.32. Academy Sports and Outdoors had a net margin of 9.66% and a return on equity of 48.05%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the business posted $1.89 earnings per share. Academy Sports and Outdoors’s quarterly revenue was down 7.1% compared to the same quarter last year.

Several brokerages have commented on ASO. Truist Financial began coverage on shares of Academy Sports and Outdoors in a report on Wednesday, May 11th. They issued a “buy” rating and a $53.00 price objective for the company. Zacks Investment Research lowered shares of Academy Sports and Outdoors from a “buy” rating to a “hold” rating in a report on Wednesday, June 1st. UBS Group lowered their target price on shares of Academy Sports and Outdoors to $55.00 in a report on Thursday. The Goldman Sachs Group lowered their target price on shares of Academy Sports and Outdoors from $61.00 to $49.00 and set a “buy” rating for the company in a report on Wednesday, May 4th. Finally, Loop Capital lifted their target price on shares of Academy Sports and Outdoors from $43.00 to $50.00 in a report on Wednesday, March 30th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $54.15.

A number of hedge funds and other institutional investors have recently made changes to their positions in ASO. BlackRock Inc. grew its position in Academy Sports and Outdoors by 124.0% in the 1st quarter. BlackRock Inc. now owns 13,562,648 shares of the company’s stock worth $534,370,000 after purchasing an additional 7,507,589 shares during the period. Morgan Stanley grew its position in Academy Sports and Outdoors by 1,107.8% in the 2nd quarter. Morgan Stanley now owns 1,706,387 shares of the company’s stock worth $70,370,000 after purchasing an additional 1,565,102 shares during the period. Marshall Wace LLP grew its position in Academy Sports and Outdoors by 1,721.4% in the 3rd quarter. Marshall Wace LLP now owns 1,286,524 shares of the company’s stock worth $51,487,000 after purchasing an additional 1,215,891 shares during the period. State Street Corp grew its position in Academy Sports and Outdoors by 73.0% in the 1st quarter. State Street Corp now owns 2,834,137 shares of the company’s stock worth $111,872,000 after purchasing an additional 1,196,076 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Academy Sports and Outdoors by 11,157.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,079,773 shares of the company’s stock worth $42,542,000 after purchasing an additional 1,070,181 shares during the period. Institutional investors own 89.94% of the company’s stock.

Shares of ASO opened at $37.86 on Friday. 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 has a one year low of $25.10 and a one year high of $51.08. The company has a 50-day simple moving average of $36.86 and a two-hundred day simple moving average of $37.98. The firm has a market capitalization of $3.27 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.39 and a beta of 1.65.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Thursday, June 16th will be issued a $0.075 dividend. The ex-dividend date is Wednesday, June 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.79%. Academy Sports and Outdoors’s payout ratio is currently 4.30%.

About Academy Sports and Outdoors (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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