Seaport Res Ptn Weighs in on Under Armour, Inc.’s FY2023 Earnings (NYSE:UAA)

Under Armour, Inc. (NYSE:UAAGet Rating) – Research analysts at Seaport Res Ptn issued their FY2023 earnings per share estimates for Under Armour in a research note issued on Thursday, May 5th. Seaport Res Ptn analyst M. Kummetz anticipates that the company will earn $0.76 per share for the year. Seaport Res Ptn currently has a “Neutral” rating on the stock. Seaport Res Ptn also issued estimates for Under Armour’s FY2024 earnings at $1.05 EPS and FY2025 earnings at $1.20 EPS.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets raised shares of Under Armour from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $23.00 to $25.00 in a research note on Tuesday, January 18th. Robert W. Baird reduced their price objective on shares of Under Armour from $24.00 to $22.00 in a research note on Friday, April 1st. Exane BNP Paribas raised shares of Under Armour from an “underperform” rating to a “neutral” rating and set a $18.00 price objective for the company in a research note on Wednesday, January 19th. B. Riley reduced their price objective on shares of Under Armour from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, February 14th. Finally, Citigroup reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Under Armour in a research note on Friday, February 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $25.13.

Shares of NYSE:UAA traded down $3.64 during trading on Friday, reaching $10.65. 277,640 shares of the company traded hands, compared to its average volume of 4,829,147. The firm has a fifty day simple moving average of $16.24 and a 200 day simple moving average of $19.53. The firm has a market cap of $5.07 billion, a P/E ratio of 14.01 and a beta of 1.25. Under Armour has a 1-year low of $13.70 and a 1-year high of $27.28. The company has a quick ratio of 1.74, a current ratio of 2.30 and a debt-to-equity ratio of 0.32.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of UAA. Morgan Stanley increased its stake in Under Armour by 35.5% in the second quarter. Morgan Stanley now owns 2,526,198 shares of the company’s stock valued at $53,429,000 after acquiring an additional 661,912 shares during the period. Treasurer of the State of North Carolina boosted its position in Under Armour by 3.5% in the third quarter. Treasurer of the State of North Carolina now owns 67,862 shares of the company’s stock valued at $1,369,000 after buying an additional 2,289 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Under Armour by 27.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 33,274 shares of the company’s stock valued at $671,000 after buying an additional 7,164 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Under Armour by 2.3% in the third quarter. PNC Financial Services Group Inc. now owns 33,495 shares of the company’s stock valued at $675,000 after buying an additional 748 shares in the last quarter. Finally, Truist Financial Corp boosted its position in Under Armour by 44.6% in the third quarter. Truist Financial Corp now owns 58,980 shares of the company’s stock valued at $1,190,000 after buying an additional 18,178 shares in the last quarter. 38.72% of the stock is currently owned by institutional investors and hedge funds.

Under Armour declared that its board has approved a share buyback plan on Wednesday, February 23rd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Under Armour Company Profile (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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Earnings History and Estimates for Under Armour (NYSE:UAA)

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