Amer Sports, Inc. (AS) is set to report third-quarter earnings results before the market opens on Tuesday, November 18, and Wall Street's watching closely to see if the Helsinki-based sports equipment maker can deliver on its upgraded guidance.
Analysts are expecting the company to post earnings of 25 cents per share, which would represent a solid jump from the 14 cents per share reported in the same quarter last year. The consensus revenue estimate sits at $1.73 billion, compared to $1.35 billion in the year-ago period.
The company gave investors something to get excited about back on September 18 when it raised its third-quarter revenue outlook. Management now expects revenue growth in the high-20s percentage range year-over-year, a meaningful upgrade from the roughly 20% growth it had previously forecast. The adjusted operating margin is also projected to land at or above the upper end of its earlier 12% to 13% range.
Shares of Amer Sports (AS) climbed 1.3% on Monday, closing at $30.76.
So what are the analysts who actually get their calls right saying about the stock? Here's how five of Wall Street's most accurate analysts have positioned themselves heading into the print:
JP Morgan analyst Matthew Boss kept his Overweight rating but trimmed his price target from $53 to $50 on November 17. Boss has a 65% accuracy rate on his calls.
Wells Fargo analyst Ike Boruchow turned more bullish on September 29, upgrading the stock from Equal-Weight to Overweight while boosting his price target from $38 to $40. Boruchow sports a 71% accuracy rate, the highest among this group.
Citigroup analyst Paul Lejuez stuck with his Buy rating and raised his price target from $42 to $50 on September 19, following the company's guidance increase. Lejuez has a 64% accuracy rate.
B of A Securities analyst Lorraine Hutchinson maintained her Buy rating and nudged the price target up from $45 to $46 on September 19 as well. Her accuracy rate stands at 61%.
UBS analyst Jay Sole also kept his Buy rating intact while lifting his price target from $50 to $52 back on August 20. Sole has a 68% accuracy rate.
The consensus among these top analysts is decidedly positive, with all five maintaining Buy or Overweight ratings. The price targets suggest meaningful upside from Monday's close of $30.76, with the range spanning from $40 on the low end to $52 on the high end. That's potential upside of 30% to 69% if these analysts are right.
Tuesday's earnings report will be the first real test of whether the company can execute on its upgraded outlook and justify the optimism Wall Street's best forecasters are showing.