Under Armour (NYSE:UAA) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Under Armour (NYSE:UAAGet Free Report) posted its earnings results on Thursday. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.08, Briefing.com reports. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. Under Armour had a net margin of 6.98% and a return on equity of 13.85%. Under Armour’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. Under Armour updated its FY24 guidance to $0.50-0.52 EPS and its FY 2024 guidance to 0.500-0.520 EPS.

Under Armour Price Performance

Shares of UAA opened at $8.09 on Friday. Under Armour has a fifty-two week low of $6.29 and a fifty-two week high of $10.87. The firm’s 50 day moving average price is $8.23 and its 200 day moving average price is $7.66. The company has a market cap of $3.54 billion, a P/E ratio of 8.99, a PEG ratio of 1.62 and a beta of 1.64. The company has a quick ratio of 1.35, a current ratio of 2.13 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC acquired a new position in Under Armour during the 4th quarter worth approximately $114,000. International Assets Investment Management LLC acquired a new position in Under Armour during the 4th quarter worth approximately $296,000. Comerica Bank grew its holdings in Under Armour by 110.0% during the 3rd quarter. Comerica Bank now owns 78,001 shares of the company’s stock worth $534,000 after acquiring an additional 40,856 shares in the last quarter. Creative Planning grew its holdings in Under Armour by 99.6% during the 3rd quarter. Creative Planning now owns 30,012 shares of the company’s stock worth $206,000 after acquiring an additional 14,974 shares in the last quarter. Finally, Tudor Investment Corp Et Al acquired a new position in Under Armour during the 3rd quarter worth approximately $2,137,000. Institutional investors and hedge funds own 38.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. TheStreet upgraded shares of Under Armour from a “d+” rating to a “c-” rating in a report on Thursday. Truist Financial assumed coverage on shares of Under Armour in a research note on Friday, November 17th. They issued a “hold” rating and a $8.00 price target on the stock. Piper Sandler reduced their price target on shares of Under Armour from $10.00 to $8.50 and set a “neutral” rating on the stock in a research note on Thursday, November 9th. Telsey Advisory Group reissued a “market perform” rating and issued a $9.00 price target on shares of Under Armour in a research note on Monday, February 5th. Finally, Evercore ISI assumed coverage on shares of Under Armour in a research note on Tuesday, November 7th. They issued an “inline” rating and a $8.00 price target on the stock. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.92.

View Our Latest Analysis on Under Armour

Under Armour Company Profile

(Get Free Report)

Under Armour, Inc, together with its subsidiaries, develops, markets, and distributes performance apparel, footwear, and accessories for men, women, and youth. The company provides its apparel in compression, fitted, and loose fit types. It also offers footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.

See Also

Earnings History for Under Armour (NYSE:UAA)

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