Q2 2023 Earnings Forecast for Under Armour, Inc. (NYSE:UAA) Issued By Wedbush

Under Armour, Inc. (NYSE:UAAGet Rating) – Equities research analysts at Wedbush lowered their Q2 2023 earnings estimates for shares of Under Armour in a research report issued to clients and investors on Wednesday, August 3rd. Wedbush analyst T. Nikic now anticipates that the company will post earnings of $0.17 per share for the quarter, down from their prior forecast of $0.25. Wedbush has a “Hold” rating and a $18.00 price target on the stock. The consensus estimate for Under Armour’s current full-year earnings is $0.50 per share. Wedbush also issued estimates for Under Armour’s Q3 2023 earnings at $0.16 EPS and FY2023 earnings at $0.50 EPS.

Under Armour (NYSE:UAAGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Under Armour had a return on equity of 11.61% and a net margin of 2.99%. During the same period in the prior year, the business posted $0.24 earnings per share.

A number of other equities analysts also recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Under Armour from $13.00 to $10.00 in a report on Wednesday, July 20th. UBS Group cut their price objective on shares of Under Armour from $18.00 to $12.00 in a research report on Friday, July 15th. Piper Sandler restated a “neutral” rating and issued a $10.00 price objective on shares of Under Armour in a research note on Tuesday, July 26th. William Blair downgraded Under Armour from a “hold” rating to a “sell” rating and set a $7.00 target price on the stock. in a research report on Thursday. Finally, BMO Capital Markets cut their price target on Under Armour from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.54.

Under Armour Trading Up 0.3 %

Shares of NYSE:UAA opened at $9.33 on Friday. Under Armour has a 52-week low of $8.10 and a 52-week high of $27.28. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 25.92 and a beta of 1.35. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.74 and a current ratio of 2.06. The stock’s 50-day simple moving average is $9.26 and its two-hundred day simple moving average is $13.54.

Insider Activity

In related news, Director David W. Gibbs purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was bought at an average price of $9.39 per share, for a total transaction of $234,750.00. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at approximately $234,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.40% of the company’s stock.

Institutional Trading of Under Armour

A number of large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its stake in shares of Under Armour by 7.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 17,234 shares of the company’s stock valued at $365,000 after buying an additional 1,150 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Under Armour during the fourth quarter valued at approximately $3,665,000. Yousif Capital Management LLC purchased a new stake in Under Armour during the fourth quarter worth $668,000. CWM LLC purchased a new position in shares of Under Armour in the 4th quarter valued at $35,000. Finally, Xponance Inc. bought a new position in shares of Under Armour in the 4th quarter worth $246,000. 38.72% of the stock is owned by hedge funds and other institutional investors.

Under Armour Company Profile

(Get Rating)

Under Armour, Inc, together with its subsidiaries, engages in the developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. The company offers its apparel in compression, fitted, and loose fit types. It also provides footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.

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Earnings History and Estimates for Under Armour (NYSE:UAA)

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