Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Get Rating) – Investment analysts at Wedbush decreased their Q2 2023 earnings per share (EPS) estimates for shares of Academy Sports and Outdoors in a research report issued on Wednesday, June 8th. Wedbush analyst S. Basham now anticipates that the company will post earnings of $2.15 per share for the quarter, down from their prior forecast of $2.36. The consensus estimate for Academy Sports and Outdoors’ current full-year earnings is $7.06 per share. Wedbush also issued estimates for Academy Sports and Outdoors’ Q3 2023 earnings at $1.56 EPS, Q4 2023 earnings at $1.62 EPS, FY2023 earnings at $7.02 EPS and FY2024 earnings at $7.38 EPS.
Academy Sports and Outdoors (NASDAQ:ASO – Get Rating) last posted its earnings results on Tuesday, June 7th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.32. Academy Sports and Outdoors had a return on equity of 47.24% and a net margin of 9.66%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year.
ASO has been the topic of several other reports. The Goldman Sachs Group reduced their target price on Academy Sports and Outdoors from $61.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, May 4th. Loop Capital boosted their target price on Academy Sports and Outdoors from $43.00 to $50.00 in a research note on Wednesday, March 30th. Wells Fargo & Company reduced their target price on Academy Sports and Outdoors from $62.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, March 24th. Truist Financial initiated coverage on Academy Sports and Outdoors in a research note on Wednesday, May 11th. They set a “buy” rating and a $53.00 target price on the stock. Finally, UBS Group dropped their price target on Academy Sports and Outdoors to $55.00 in a research report on Thursday. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $55.08.
ASO opened at $36.63 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.48 and a current ratio of 1.56. Academy Sports and Outdoors has a 52-week low of $25.10 and a 52-week high of $51.08. The stock has a market capitalization of $3.16 billion, a PE ratio of 5.26, a price-to-earnings-growth ratio of 0.56 and a beta of 1.65. The stock’s 50 day moving average price is $36.81 and its 200-day moving average price is $37.77.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 14th. Shareholders of record on Thursday, June 16th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, June 15th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is 4.30%.
A number of institutional investors have recently added to or reduced their stakes in the business. Vise Technologies Inc. bought a new stake in Academy Sports and Outdoors in the first quarter worth $288,000. Teachers Retirement System of The State of Kentucky bought a new stake in Academy Sports and Outdoors in the first quarter worth $766,000. Bank of America Corp DE raised its stake in shares of Academy Sports and Outdoors by 11.8% in the first quarter. Bank of America Corp DE now owns 1,394,063 shares of the company’s stock worth $54,926,000 after purchasing an additional 146,938 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Academy Sports and Outdoors in the first quarter worth $404,000. Finally, Shellback Capital LP raised its stake in shares of Academy Sports and Outdoors by 0.4% in the first quarter. Shellback Capital LP now owns 1,200,000 shares of the company’s stock worth $47,280,000 after purchasing an additional 4,700 shares during the last quarter. 89.94% of the stock is currently owned by institutional investors and hedge funds.
About Academy Sports and Outdoors (Get Rating)
Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; team sports equipment, including baseball, football, basketball, soccer, golf, racket sports, and volleyball; fitness equipment and accessories, and nutrition supplies; and patio furniture, outdoor cooking, wheeled goods, trampolines, playsets, watersports, and pet equipment, as well as electronics products, watches, consumables, batteries, etc.
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