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

Amer Sports (NYSE:AS) announced its quarterly earnings data on Tuesday. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17, Zacks reports. Amer Sports had a positive return on equity of 3.15% and a negative net margin of 0.74%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.59 billion. The company’s quarterly revenue was up 23.2% compared to the same quarter last year.

Amer Sports Price Performance

Amer Sports stock opened at $28.55 on Tuesday. The stock has a market capitalization of $15.60 billion and a P/E ratio of -203.93. Amer Sports has a 12-month low of $10.11 and a 12-month high of $34.00. 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 firm’s 50-day moving average is $29.98 and its two-hundred day moving average is $22.18.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Hsbc Global Res downgraded shares of Amer Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. UBS Group increased their target price on shares of Amer Sports from $27.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. lifted their price target on shares of Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. HSBC cut Amer Sports from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Monday, December 16th. Finally, TD Cowen lifted their price objective on Amer Sports from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.64.

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.