Wall Street Analysts Update Earnings Predictions for ASO
Analyst Expectations for Academy Sports and Outdoors
Academy Sports and Outdoors, Inc. (NYSE: ASO) is preparing to announce its earnings for the second quarter. Analysts are closely monitoring the company as they anticipate a slight dip in earnings per share. The expectation is set at $2.03, showing a decrease from $2.09 in the same quarter last year. On the revenue front, projections suggest that the company could generate approximately $1.57 billion.
Quarterly Dividend Declaration
In a recent board meeting, Academy Sports and Outdoors also declared a quarterly cash dividend of 11 cents per share, a decision that reflects the company’s commitment to providing returns to its shareholders amid fluctuating market conditions.
Current Share Performance
As of the last trading session, Academy Sports and Outdoors’ stock saw a minor decline of 0.4%, closing at $53.58. This slight decrease in value is being monitored by potential investors who are weighing their options before the upcoming earnings announcement.
Insight from Analysts
Several analysts have shared their updated ratings for ASO stock ahead of the expected earnings report. Joseph Feldman from Telsey Advisory Group has maintained an Outperform rating with a price target of $65. Similarly, Seth Basham from Wedbush also reiterated a positive outlook with a price target of $65. Both analysts are recognized for their strong accuracy rates, adding credibility to their projections.
Recent Downgrades
Notably, John Kernan from TD Cowen downgraded the stock from Buy to Hold, adjusting his price target from $58 to $54. Furthermore, Christopher Horvers of JP Morgan also revised his outlook, moving from Overweight to Neutral and lowering the price target from $76 to $53. These changes signal some caution in the market.
Investment Considerations for ASO
If you’re contemplating an investment in ASO stock, it is essential to consider the mixed sentiments from analysts. While some maintain a bullish stance, others express caution based on recent performance metrics and market trends. This variance in opinion is crucial for informed decision-making.
Frequently Asked Questions
What are the expected earnings for Academy Sports and Outdoors?
Analysts expect ASO to report earnings of $2.03 per share for the second quarter.
What was the previous year's earnings per share?
In the same quarter last year, the company reported earnings of $2.09 per share.
What is the recent stock performance of ASO?
ASO shares fell by 0.4%, closing at $53.58 in the last trading session.
What is the new dividend declared by the company?
Academy Sports and Outdoors has declared a quarterly cash dividend of 11 cents per share.
Which analyst has the highest price target for ASO?
Both Joseph Feldman and Seth Basham have set the price target at $65, reflecting an Outperform rating.
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