Amer Sports (NYSE:AS) Issues FY24 Earnings Guidance

Amer Sports (NYSE:AS) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.30-0.40 for the period, compared to the consensus estimate of $0.39. The company issued revenue guidance of +Mid-teens %, compared to the consensus revenue estimate of $4.97 billion. Amer Sports also updated its FY 2024 guidance to 0.400-0.400 EPS.

Amer Sports Trading Down 7.9 %

AS stock opened at $14.76 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 0.80 and a debt-to-equity ratio of 477.02. The company’s fifty day moving average price is $15.03. Amer Sports has a twelve month low of $13.10 and a twelve month high of $18.23.

Amer Sports (NYSE:AS) last posted its earnings results on Tuesday, March 5th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. Analysts anticipate that Amer Sports will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AS shares. Robert W. Baird started coverage on shares of Amer Sports in a report on Monday, February 26th. They set an outperform rating and a $20.00 target price for the company. Citigroup assumed coverage on shares of Amer Sports in a research report on Monday, February 26th. They issued a buy rating and a $19.00 price objective for the company. UBS Group started coverage on Amer Sports in a research report on Monday, February 26th. They set a buy rating and a $23.00 target price on the stock. Bank of America upped their price target on Amer Sports from $18.00 to $19.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Finally, Morgan Stanley began coverage on Amer Sports in a report on Monday, February 26th. They issued an equal weight rating and a $16.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $18.86.

About Amer Sports

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.