These Analysts Slash Their Forecasts On Academy Sports And Outdoors After Weak Q1 Earnings
Portfolio Pulse from Avi Kapoor
Academy Sports And Outdoors Inc (NASDAQ:ASO) reported weaker-than-expected Q1 FY24 earnings, leading to a decline in stock price and multiple analysts lowering their price targets. Despite the weak performance, the company reiterated its sales and net income guidance for FY24 and raised its EPS outlook.
June 12, 2024 | 12:09 pm
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Academy Sports And Outdoors Inc (NASDAQ:ASO) reported weaker-than-expected Q1 FY24 earnings, with sales and EPS missing analyst estimates. The company reiterated its FY24 sales and net income guidance but raised its EPS outlook. Multiple analysts have lowered their price targets, leading to a 3.2% drop in stock price.
The weaker-than-expected Q1 earnings and the subsequent lowering of price targets by multiple analysts indicate a negative short-term impact on ASO's stock price. The company's reiteration of its FY24 guidance and raised EPS outlook provide some positive long-term outlook, but the immediate reaction is likely to be negative.
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