Sportsman's Warehouse (NASDAQ:SPWH) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Sportsman's Warehouse (NASDAQ:SPWH - Get Free Report) posted its earnings results on Wednesday. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.10, Briefing.com reports. The firm had revenue of $370.39 million during the quarter, compared to the consensus estimate of $373.61 million. Sportsman's Warehouse had a negative net margin of 0.71% and a negative return on equity of 1.41%. The company's revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. Sportsman's Warehouse updated its FY 2024 guidance to EPS.

Sportsman's Warehouse Price Performance

SPWH stock traded up $0.66 during midday trading on Thursday, reaching $3.79. The company had a trading volume of 2,639,987 shares, compared to its average volume of 431,467. Sportsman's Warehouse has a 1 year low of $2.74 and a 1 year high of $8.85. The company has a market capitalization of $141.78 million, a P/E ratio of -14.58 and a beta of 0.76. The firm has a 50-day moving average price of $3.51 and a 200-day moving average price of $4.18.

Hedge Funds Weigh In On Sportsman's Warehouse

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its stake in Sportsman's Warehouse by 1.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 102,595 shares of the company's stock worth $852,000 after buying an additional 1,205 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Sportsman's Warehouse by 11.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,332 shares of the company's stock worth $99,000 after buying an additional 1,722 shares in the last quarter. UBS Group AG grew its stake in Sportsman's Warehouse by 145.2% in the 2nd quarter. UBS Group AG now owns 4,414 shares of the company's stock worth $42,000 after buying an additional 2,614 shares in the last quarter. Northern Trust Corp grew its stake in Sportsman's Warehouse by 0.9% in the 4th quarter. Northern Trust Corp now owns 309,694 shares of the company's stock worth $1,319,000 after buying an additional 2,662 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Sportsman's Warehouse by 19.9% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 16,233 shares of the company's stock worth $135,000 after buying an additional 2,692 shares in the last quarter. Hedge funds and other institutional investors own 83.04% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SPWH shares. B. Riley reduced their price objective on shares of Sportsman's Warehouse from $4.50 to $4.00 and set a "neutral" rating for the company in a research note on Thursday. Robert W. Baird reduced their price objective on shares of Sportsman's Warehouse from $5.00 to $4.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, StockNews.com raised shares of Sportsman's Warehouse to a "sell" rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Sportsman's Warehouse presently has a consensus rating of "Hold" and an average target price of $7.25.

Sportsman's Warehouse Company Profile

Sportsman's Warehouse Holdings, Inc, together with its subsidiaries, operates as an outdoor sporting goods retailer in the United States. It offers camping products, such as backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents, and tools; and apparel products, including camouflage, jackets, hats, outerwear, sportswear, technical gear, and work wear.