Under Armour (NYSE:UAA) Issues Earnings Results, Beats Expectations By $0.03 EPS

Under Armour (NYSE:UAA) posted its earnings results on Wednesday. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03, RTT News reports. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Under Armour had a return on equity of 13.59% and a net margin of 6.60%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Under Armour updated its FY24 guidance to $0.47-0.51 EPS and its FY 2024 guidance to $0.47-$0.51 EPS.

Under Armour Trading Up 1.6 %

Under Armour stock opened at $7.22 on Wednesday. Under Armour has a 52 week low of $6.29 and a 52 week high of $13.05. The stock has a 50-day moving average price of $7.04 and a 200 day moving average price of $7.48. The company has a quick ratio of 1.14, a current ratio of 2.04 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 1.22 and a beta of 1.69.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $9.00 price objective on shares of Under Armour in a research report on Thursday, November 2nd. StockNews.com started coverage on Under Armour in a research report on Thursday, October 5th. They set a “hold” rating on the stock. TheStreet cut Under Armour from a “c-” rating to a “d” rating in a research report on Tuesday, August 8th. Finally, Evercore ISI initiated coverage on Under Armour in a research note on Tuesday. They set an “inline” rating and a $8.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Under Armour currently has a consensus rating of “Hold” and a consensus price target of $10.50.

Institutional Trading of Under Armour

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank purchased a new stake in Under Armour in the second quarter valued at $268,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Under Armour by 9.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 35,147 shares of the company’s stock worth $254,000 after buying an additional 3,108 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Under Armour by 32.2% during the second quarter. Nuveen Asset Management LLC now owns 1,000,631 shares of the company’s stock worth $7,225,000 after acquiring an additional 243,896 shares during the period. GTS Securities LLC purchased a new position in Under Armour during the second quarter valued at approximately $622,000. Finally, Alliancebernstein L.P. raised its position in Under Armour by 2.4% during the second quarter. Alliancebernstein L.P. now owns 300,604 shares of the company’s stock valued at $2,170,000 after acquiring an additional 6,957 shares in the last quarter. Institutional investors and hedge funds own 38.45% of the company’s stock.

Under Armour Company Profile

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