Vista Outdoor (NYSE:VSTO) Releases FY 2023 Earnings Guidance

Vista Outdoor (NYSE:VSTOGet Rating) issued an update on its FY 2023 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $7.00-$7.75 for the period, compared to the consensus estimate of $6.84. The company issued revenue guidance of $3.15 billion-$3.25 billion, compared to the consensus revenue estimate of $3.09 billion.Vista Outdoor also updated its Q1 2023 guidance to $1.85-$1.95 EPS.

Shares of Vista Outdoor stock traded down $1.22 during trading on Monday, hitting $38.08. The stock had a trading volume of 29,031 shares, compared to its average volume of 859,303. The stock has a 50 day simple moving average of $36.42 and a 200 day simple moving average of $39.83. Vista Outdoor has a 1 year low of $31.83 and a 1 year high of $52.69. The company has a market capitalization of $2.14 billion, a PE ratio of 4.79 and a beta of 0.54. The company has a quick ratio of 1.21, a current ratio of 2.82 and a debt-to-equity ratio of 0.59.

Vista Outdoor (NYSE:VSTOGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.24. The business had revenue of $809.00 million during the quarter, compared to analysts’ expectations of $760.87 million. Vista Outdoor had a net margin of 15.54% and a return on equity of 50.41%. Vista Outdoor’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 earnings per share. As a group, equities analysts expect that Vista Outdoor will post 7.36 earnings per share for the current fiscal year.

Several research firms have recently weighed in on VSTO. Monness Crespi & Hardt reaffirmed a buy rating and issued a $65.00 target price on shares of Vista Outdoor in a report on Friday, March 18th. Zacks Investment Research upgraded shares of Vista Outdoor from a sell rating to a hold rating in a research report on Friday. Roth Capital cut their target price on shares of Vista Outdoor from $61.00 to $57.00 in a research report on Friday, February 4th. Finally, StockNews.com began coverage on shares of Vista Outdoor in a research report on Thursday, March 31st. They issued a buy rating on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Vista Outdoor has an average rating of Buy and a consensus price target of $58.11.

In other news, insider Jason R. Vanderbrink sold 3,104 shares of the business’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $35.79, for a total transaction of $111,092.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.78% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Vista Outdoor in the 4th quarter valued at about $15,725,000. Morgan Stanley grew its position in shares of Vista Outdoor by 97.7% in the 2nd quarter. Morgan Stanley now owns 550,488 shares of the company’s stock worth $25,478,000 after buying an additional 272,068 shares during the last quarter. BlackRock Inc. grew its position in shares of Vista Outdoor by 0.7% in the 4th quarter. BlackRock Inc. now owns 8,861,965 shares of the company’s stock worth $408,272,000 after buying an additional 59,502 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Vista Outdoor by 314.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 52,682 shares of the company’s stock valued at $2,427,000 after purchasing an additional 39,956 shares during the period. Finally, LPL Financial LLC lifted its stake in shares of Vista Outdoor by 33.7% in the 4th quarter. LPL Financial LLC now owns 56,274 shares of the company’s stock valued at $2,593,000 after purchasing an additional 14,181 shares during the period. 82.50% of the stock is currently owned by institutional investors and hedge funds.

About Vista Outdoor (Get Rating)

Vista Outdoor Inc designs, manufactures, and markets consumer products in the outdoor sports and recreation markets in the United States and internationally. The company operates through two segments, Shooting Sports and Outdoor Products. The Shooting Sports segment offers ammunition products, including centerfire ammunition, rimfire ammunition, shotshell ammunition, and reloading components; and hunting and shooting accessories comprising high-performance hunting arrows, game calls, hunting blinds, game cameras, decoys, reloading equipment, clay targets, premium gun care products, holsters, duty gear, bags, packs, binoculars, riflescopes, and telescopes.

Further Reading

Earnings History and Estimates for Vista Outdoor (NYSE:VSTO)

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