Analysts Offer Predictions for Under Armour, Inc.’s Q1 2023 Earnings (NYSE:UAA)

Under Armour, Inc. (NYSE:UAA – Get Rating) – Stock analysts at William Blair cut their Q1 2023 earnings per share (EPS) estimates for shares of Under Armour in a research report issued to clients and investors on Monday, April 25th. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of $0.03 for the quarter, down from their prior estimate of $0.05. William Blair also issued estimates for Under Armour’s Q2 2023 earnings at $0.30 EPS, Q3 2023 earnings at $0.23 EPS and Q4 2023 earnings at $0.20 EPS.

Under Armour (NYSE:UAA – Get Rating) last posted its quarterly earnings results on Friday, February 11th. The company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.08. Under Armour had a return on equity of 20.66% and a net margin of 6.34%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company earned $0.12 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis.

A number of other equities analysts have also commented on UAA. B. Riley cut their price target on Under Armour from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, February 14th. JPMorgan Chase & Co. dropped their price objective on Under Armour from $28.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, March 9th. Argus raised Under Armour from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Thursday, February 24th. OTR Global raised Under Armour to a “positive” rating in a research note on Thursday, January 27th. Finally, Morgan Stanley raised Under Armour from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $23.00 to $24.00 in a research note on Wednesday, February 2nd. Twelve research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $25.67.

Under Armour stock opened at $15.04 on Thursday. Under Armour has a one year low of $13.70 and a one year high of $27.28. The business has a fifty day moving average price of $16.41 and a 200-day moving average price of $19.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.30 and a quick ratio of 1.74. The firm has a market capitalization of $7.16 billion, a P/E ratio of 19.53 and a beta of 1.26.

Under Armour declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 23rd that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional investors and hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in shares of Under Armour in the 4th quarter worth approximately $27,000. CastleArk Alternatives LLC bought a new stake in shares of Under Armour in the 3rd quarter worth approximately $27,000. CWM LLC bought a new stake in shares of Under Armour in the 4th quarter worth approximately $35,000. Daiwa Securities Group Inc. boosted its position in shares of Under Armour by 44.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,753 shares of the company’s stock worth $37,000 after purchasing an additional 537 shares in the last quarter. Finally, Cornerstone Advisory LLC purchased a new position in Under Armour in the 4th quarter worth approximately $39,000. 33.99% of the stock is currently owned by hedge funds and other institutional investors.

About Under Armour (Get Rating)

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

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