• Sat. Sep 24th, 2022

First Quarter 2024 Earnings Forecast for Academy Sports and Outdoors, Inc. Released by Wedbush (NASDAQ:ASO)

ByMary M. Ward

Aug 30, 2022

Academy Sports and Outdoors, Inc. (NASDAQ: ASO – Get a rating) – Wedbush released its first-quarter 2024 EPS estimates for Academy Sports and Outdoors in a research note published Monday, August 29. Wedbush analyst S. Basham expects the company to post earnings per share of $1.79 for the quarter. The consensus estimate for Academy Sports and Outdoors’ current annual earnings is $7.01 per share. Wedbush also released estimates for Academy Sports and Outdoors Q2 2024 earnings at $2.20 EPS, Q3 2024 earnings at $1.64 EPS and Q4 2024 earnings at $1.75 EPS.

ASO has been the subject of a number of other research reports. Morgan Stanley began covering Academy Sports and Outdoors stocks in a research report on Monday, August 15. They set an “equal weight” rating and a target price of $50.00 on the stock. UBS Group lowered its price target on shares of Academy Sports and Outdoors to $55.00 in a Thursday, June 9 research note. Truist Financial launched coverage on Academy Sports and Outdoors stocks in a Wednesday, May 11 research report. They set a “buy” rating and a price target of $53.00 for the company. Goldman Sachs Group cut its price target on Academy Sports and Outdoors shares from $61.00 to $49.00 and set a “buy” rating for the company in a Wednesday, May 4, report. Finally, Stephens raised his price target on Academy Sports and Outdoors stock from $70.00 to $72.00 and gave the stock an “overweight” rating in a Wednesday, June 8 report. One equity research analyst has assigned the stock a hold rating and twelve have assigned the stock a buy rating. Based on data from MarketBeat, Academy Sports and Outdoors currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.69.

Academy Sports and Outdoors Trading up 0.9%

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ASO opened at $44.77 on Tuesday. The company’s fifty-day simple moving average is $41.52 and its 200-day simple moving average is $37.87. The company has a current ratio of 1.56, a quick ratio of 0.44 and a debt ratio of 0.45. Academy Sports and Outdoors has a 12-month minimum of $25.10 and a 12-month maximum of $51.08. The stock has a market capitalization of $3.81 billion, a P/E ratio of 6.42, a P/E/G ratio of 0.69 and a beta of 1.39.

Academy Sports and Outdoors (NASDAQ: ASO – Get a rating) last released its quarterly results on Tuesday, June 7. The company reported earnings per share of $1.73 for the quarter, beating consensus analyst estimates of $1.40 by $0.33. Academy Sports and Outdoors had a net margin of 9.66% and a return on equity of 47.24%. The company posted revenue of $1.47 billion in the quarter, compared to analysts’ estimates of $1.45 billion. In the same quarter last year, the company posted earnings per share of $1.89. Academy Sports and Outdoors revenue for the quarter decreased 7.1% compared to the same quarter last year.

Sports and Outdoors Academy Dividends Announced

The company also recently announced a quarterly dividend, which was paid on Thursday, July 14. Shareholders of record on Thursday, June 16 received a dividend of $0.075 per share. This represents a dividend of $0.30 on an annualized basis and a yield of 0.67%. The ex-dividend date was Wednesday, June 15. The Academy Sports and Outdoors payout ratio is 4.30%.

Institutional investors weigh in on Academy Sports and Outdoors

A number of institutional investors have recently increased or reduced their stake in the stock. Counterpoint Mutual Funds LLC bought a new position in shares of Academy Sports and Outdoors in the first quarter worth $26,000. Prospera Financial Services Inc bought a new stock position in Academy Sports and Outdoors in the first quarter worth $26,000. Captrust Financial Advisors increased its holdings of Academy Sports and Outdoors shares by 55.0% in the first quarter. Captrust Financial Advisors now owns 1,006 shares of the company valued at $40,000 after buying 357 additional shares in the last quarter. Covestor Ltd bought a new position in shares of Academy Sports and Outdoors in the fourth quarter worth $59,000. Finally, Kistler Tiffany Companies LLC bought a new stock position in Academy Sports and Outdoors in the second quarter worth $96,000. 98.01% of the shares are held by hedge funds and other institutional investors.

About the Sports and Outdoors Academy

(Get a rating)

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a retailer of sporting goods and outdoor recreation products in the United States. The company sells coolers and glasses, camping accessories, camping gear, sunglasses, backpacks and sports bags. marine equipment and fishing rods, reels, bait and equipment; firearms, ammunition, archery and archery equipment, camouflage clothing, waders, shooting accessories, optics, airguns and hunting equipment; team sports equipment, including baseball, football, basketball, soccer, golf, racquet sports and volleyball; fitness equipment and accessories and nutritional supplies; and patio furniture, outdoor kitchen, rolling items, trampolines, play sets, water sports and pet equipment, as well as electronics, watches, consumables, batteries, etc.

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History and revenue estimates for Academy Sports and Outdoors (NASDAQ:ASO)

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