Academy Sports and Outdoors Prepares for Promising Q2 Report
Academy Sports and Outdoors Gears Up for Q2 Earnings
Academy Sports and Outdoors, Inc. (NASDAQ: ASO) is set to unveil its second-quarter earnings results soon. Analysts are optimistic, predicting earnings of approximately $2.14 per share, an increase from $2.03 per share a year prior. The company is also expected to see a rise in revenue, with estimates at around $1.61 billion compared to $1.55 billion in 2023.
Recent Company Developments
In a strategic move, Academy Sports and Outdoors appointed Brandy Treadway as the new executive vice president, chief legal officer, and corporate secretary on August 5. This decision is viewed positively as the company continues to enhance its leadership.
Current Stock Performance
Recently, shares of Academy Sports and Outdoors witnessed a dip, falling by 4.7% to close at $53.66. Despite this setback, the overall sentiment about the company remains strong, thanks to its solid performance and the upcoming earnings report that may reflect positive growth.
Analysts' Ratings and Predictions
As earnings day approaches, analysts have been actively revising their forecasts regarding ASO stock, believing the company will perform well:
- Telsey Advisory Group's Cristina Fernandez has maintained an Outperform rating with a price target of $65, reflecting a 64% accuracy rate.
- Evercore ISI Group's Greg Melich holds an In-Line rating, adjusting the price target from $50 to $55 with a strong accuracy of 79%.
- Wells Fargo's Ike Boruchow also has an Equal-Weight rating, raising the price target to $55 from $43, and boasts a 73% accuracy rate.
- Morgan Stanley's Simeon Gutman retained an Equal-Weight rating but revised the price target downward from $55 to $52, achieving a 69% accuracy rate.
- BofA Securities' Robert Ohmes maintained a Neutral rating, lowering the price target to $55 from $60, while achieving a 76% accuracy rate.
Market Outlook for ASO
Investors considering ASO stock should be aware of these insights from analysts, which exhibit a confident outlook on the company's trajectory. With the upcoming earnings report likely to reveal strong performance metrics, interested parties may want to keep a close watch on developments.
Frequently Asked Questions
What is the expected earnings per share for Academy Sports and Outdoors?
The expected earnings per share for Academy Sports and Outdoors is projected to be $2.14.
What were the earnings per share in the previous year?
In the previous year, the earnings per share were $2.03.
When will the earnings report be released?
The earnings report is anticipated to be released before the opening bell on the designated Tuesday.
What is the recent stock price of Academy Sports and Outdoors?
The recent stock price of Academy Sports and Outdoors is $53.66.
Who is the new executive vice president of the company?
Brandy Treadway has been appointed as the new executive vice president and chief legal officer.
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