Amer Sports (NYSE:AS) Announces Quarterly Earnings Results, Hits Expectations

Amer Sports (NYSE:AS) posted its earnings results on Tuesday. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17, Zacks reports. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.60 billion. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis.

Amer Sports Stock Performance

Shares of NYSE:AS opened at $30.31 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77. The business’s 50 day moving average price is $30.05 and its 200-day moving average price is $22.48. The firm has a market capitalization of $16.56 billion and a PE ratio of -216.51. Amer Sports has a 1 year low of $10.11 and a 1 year high of $34.00.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley raised their target price on Amer Sports from $19.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. UBS Group raised their target price on Amer Sports from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday. The Goldman Sachs Group raised their target price on Amer Sports from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on Amer Sports from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Robert W. Baird raised their price objective on Amer Sports from $24.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Amer Sports Company Profile

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.