Sportsman’s Warehouse (NASDAQ:SPWH) Announces Earnings Results, Misses Estimates By $0.06 EPS

Sportsman’s Warehouse (NASDAQ:SPWH) issued its quarterly earnings data on Wednesday. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06), MarketWatch Earnings reports. Sportsman’s Warehouse had a return on equity of 3.29% and a net margin of 0.38%. The business had revenue of $309.50 million during the quarter, compared to analyst estimates of $326.01 million. During the same quarter last year, the firm earned $0.36 EPS. Sportsman’s Warehouse’s revenue for the quarter was down 11.8% compared to the same quarter last year. Sportsman’s Warehouse updated its Q3 guidance to ($0.20)-($0.05) EPS and its Q3 2023 guidance to -$0.20–$0.05 EPS.

Sportsman’s Warehouse Stock Down 26.0 %

NASDAQ:SPWH opened at $3.33 on Friday. The firm has a market capitalization of $125.51 million, a PE ratio of 30.27 and a beta of 0.97. Sportsman’s Warehouse has a twelve month low of $2.98 and a twelve month high of $10.62. The stock’s 50-day simple moving average is $5.66 and its 200 day simple moving average is $6.44.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in Sportsman’s Warehouse by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,616,675 shares of the company’s stock worth $22,189,000 after purchasing an additional 284,532 shares in the last quarter. Cannell Capital LLC lifted its stake in shares of Sportsman’s Warehouse by 61.8% in the 1st quarter. Cannell Capital LLC now owns 2,589,973 shares of the company’s stock valued at $27,687,000 after acquiring an additional 989,565 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sportsman’s Warehouse by 7.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,328,871 shares of the company’s stock valued at $19,330,000 after acquiring an additional 151,689 shares in the last quarter. Stephens Investment Management Group LLC grew its position in Sportsman’s Warehouse by 16.3% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,315,898 shares of the company’s stock worth $7,501,000 after acquiring an additional 184,444 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in Sportsman’s Warehouse by 0.4% in the 1st quarter. Gabelli Funds LLC now owns 1,167,631 shares of the company’s stock worth $9,902,000 after purchasing an additional 4,076 shares in the last quarter. Institutional investors own 88.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SPWH shares. Robert W. Baird cut their price target on Sportsman’s Warehouse from $6.50 to $5.00 in a research note on Thursday. TheStreet downgraded Sportsman’s Warehouse from a “c” rating to a “d+” rating in a research report on Tuesday, May 30th. StockNews.com began coverage on Sportsman’s Warehouse in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. Finally, B. Riley dropped their price target on Sportsman’s Warehouse from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.25.

About Sportsman’s Warehouse

Sportsman's Warehouse Holdings, Inc, together with its subsidiaries, operates as an outdoor sporting goods retailer in the United States. It offers camping products, such as backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents, and tools; and apparel products, including camouflage, jackets, hats, outerwear, sportswear, technical gear, and work wear.