Amer Sports (NYSE:AS) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Key Points

• Amer Sports exceeded quarterly expectations: Earnings were $0.22 per share versus the $0.11 consensus estimate, while revenue reached $1.63 billion, above analysts’ $1.54 billion forecast.
• The stock opened at $32.60 and was trading down 0.8%; Amer Sports has an $18.06 billion market capitalization and a consensus analyst rating of “Buy” with an average price target of $49.70.
• Insiders sold 833,580 shares worth approximately $29.2 million over the past quarter, while hedge funds and institutional investors own 40.25% of the company.

Amer Sports (NYSE:AS - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.11, FiscalAI reports. Amer Sports had a net margin of 6.50% and a return on equity of 10.29%. The firm had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.54 billion.

Amer Sports Trading Down 0.8%

Shares of NYSE AS opened at $32.60 on Tuesday. Amer Sports has a twelve month low of $28.92 and a twelve month high of $42.76. The company has a current ratio of 1.66, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $34.98 and a 200-day simple moving average of $35.38. The stock has a market capitalization of $18.06 billion, a PE ratio of 40.75, a PEG ratio of 1.12 and a beta of 2.05.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Amer Sports from $49.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. upped their price objective on Amer Sports from $59.00 to $64.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Robert W. Baird set a $51.00 price objective on Amer Sports in a research report on Wednesday, May 20th. UBS Group increased their price objective on Amer Sports from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Amer Sports in a research note on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Amer Sports presently has a consensus rating of "Buy" and an average price target of $49.70.

Insider Transactions at Amer Sports

In related news, CFO Andrew E. Page sold 105,230 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $36.75, for a total transaction of $3,867,202.50. Following the transaction, the chief financial officer owned 4,083 shares of the company's stock, valued at approximately $150,050.25. This represents a 96.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wen-Chang (Victor) Chen sold 13,075 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $35.62, for a total value of $465,731.50. Following the transaction, the insider owned 149,821 shares of the company's stock, valued at $5,336,624.02. This trade represents a 8.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 833,580 shares of company stock worth $29,200,266 over the last quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Viking Global Investors LP boosted its position in Amer Sports by 63.5% in the 3rd quarter. Viking Global Investors LP now owns 6,343,481 shares of the company's stock valued at $220,436,000 after buying an additional 2,462,832 shares during the period. Morgan Stanley grew its stake in Amer Sports by 16.0% during the 4th quarter. Morgan Stanley now owns 3,707,204 shares of the company's stock worth $138,464,000 after purchasing an additional 510,419 shares in the last quarter. Scopus Asset Management L.P. acquired a new stake in Amer Sports in the 2nd quarter valued at about $108,562,000. BNP Paribas Financial Markets raised its position in Amer Sports by 244.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,533,612 shares of the company's stock valued at $98,203,000 after purchasing an additional 1,798,170 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Amer Sports by 2.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,312,195 shares of the company's stock valued at $80,349,000 after buying an additional 60,213 shares during the period. Hedge funds and other institutional investors own 40.25% of the company's stock.

Amer Sports Company Profile

Amer Sports NYSE: AS is a Helsinki-based sporting goods group that designs, develops and markets performance-oriented equipment, apparel and footwear across multiple sports. The company focuses on product innovation, brand-driven marketing and global distribution to serve athletes and outdoor enthusiasts, offering goods for activities such as skiing, running, hiking, tennis, golf and diving.

Amer Sports' portfolio comprises well-known sports and outdoor brands, including Salomon (outdoor footwear and winter sports), Atomic (alpine skis and ski equipment), Arc'teryx (technical outerwear and climbing gear), Wilson (racquet and ball sports equipment) and Suunto (precision instruments and sports watches).

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