Academy Sports and Outdoors, Inc. (NASDAQ:ASO – Get Rating) – Wedbush investment analysts have cut their second quarter 2023 earnings per share (EPS) estimates for Academy Sports and Outdoors shares in a report by research published on Wednesday, June 8. Wedbush analyst S. Basham now expects the company to post earnings of $2.15 per share for the quarter, down from its previous forecast of $2.36. The consensus estimate for Academy Sports and Outdoors’ current annual earnings is $7.06 per share. Wedbush also released 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 released its results on Tuesday, June 7. The company reported earnings per share (EPS) of $1.73 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 company posted revenue of $1.47 billion for the quarter, versus $1.45 billion for analysts. In the same period a year earlier, the company earned earnings per share of $1.89. The company’s revenues were down 7.1% from the same quarter last year.
ASO has been the subject of several other reports. Goldman Sachs Group cut its price target on Academy Sports and Outdoors from $61.00 to $49.00 and set a “buy” rating on the stock in a Wednesday, May 4 research note. Loop Capital raised its target price on Academy Sports and Outdoors from $43.00 to $50.00 in a Wednesday, March 30 research note. Wells Fargo & Company cut its price target on Academy Sports and Outdoors from $62.00 to $58.00 and set an “overweight” rating on the stock in a Thursday, March 24 research note. Truist Financial launched coverage on Academy Sports and Outdoors in a Wednesday, May 11 research note. They set a “buy” rating and a target price of $53.00 on the stock. Finally, UBS Group lowered its price target on Academy Sports and Outdoors to $55.00 in a research report on Thursday. Twelve equity research analysts 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 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 minimum of $25.10 and a 52-week maximum of $51.08. The stock has a market capitalization of $3.16 billion, a PE ratio of 5.26, a growth price-earnings 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 company also recently announced a quarterly dividend, which will be paid on Thursday, July 14. Shareholders of record on Thursday, June 16 will receive a dividend of $0.075. This represents an annualized dividend of $0.30 and a yield of 0.82%. The ex-date of this dividend is Wednesday, June 15. The dividend payout ratio (DPR) of Academy Sports and Outdoors is 4.30%.
A number of institutional investors have recently increased or reduced their stake in the company. Vise Technologies Inc. purchased a new stake in Academy Sports and Outdoors in the first quarter valued at $288,000. The Kentucky State Teachers’ Retirement System purchased a new stake in Academy Sports and Outdoors in the first quarter valued at $766,000. Bank of America Corp DE increased 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 worth $54,926,000 after buying an additional 146,938 shares in the last quarter. Verition Fund Management LLC bought a new position in Academy Sports and Outdoors stock in the first quarter worth $404,000. Finally, Shellback Capital LP increased 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 worth $47,280,000 after purchasing an additional 4,700 shares in the last quarter. 89.94% of the shares are currently held by institutional investors and hedge funds.
About the Sports and Outdoors Academy (Get an evaluation)
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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