Vista Outdoor (NYSE:VSTO) Updates Q1 2023 Earnings Guidance

Vista Outdoor (NYSE:VSTOGet Rating) issued an update on its first quarter 2023 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.85-$1.95 for the period, compared to the consensus earnings per share estimate of $1.77. The company issued revenue guidance of $770.00 million-$790.00 million, compared to the consensus revenue estimate of $748.90 million.Vista Outdoor also updated its FY 2023 guidance to $7.00-$7.75 EPS.

Vista Outdoor stock traded down $1.22 during mid-day trading on Monday, hitting $38.08. 29,031 shares of the company’s stock were exchanged, compared to its average volume of 859,303. The firm has a market capitalization of $2.14 billion, a P/E ratio of 4.79 and a beta of 0.54. Vista Outdoor has a fifty-two week low of $31.83 and a fifty-two week high of $52.69. The company has a quick ratio of 1.21, a current ratio of 2.82 and a debt-to-equity ratio of 0.59. The company’s 50 day simple moving average is $36.42 and its 200-day simple moving average is $39.83.

Vista Outdoor (NYSE:VSTOGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.80 by $0.24. Vista Outdoor had a return on equity of 50.41% and a net margin of 15.54%. The business had revenue of $809.00 million for the quarter, compared to the consensus estimate of $760.87 million. During the same quarter last year, the business posted $1.02 EPS. The firm’s revenue was up 35.6% compared to the same quarter last year. Research analysts expect that Vista Outdoor will post 7.36 EPS for the current year.

A number of brokerages have recently issued reports on VSTO. Roth Capital reduced their price objective on Vista Outdoor from $61.00 to $57.00 in a report on Friday, February 4th. Zacks Investment Research upgraded Vista Outdoor from a sell rating to a hold rating in a report on Friday. started coverage on Vista Outdoor in a report on Thursday, March 31st. They set a buy rating for the company. Finally, Monness Crespi & Hardt reiterated a buy rating and issued a $65.00 price target on shares of Vista Outdoor in a research report on Friday, March 18th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Vista Outdoor presently has a consensus rating of Buy and a consensus target price of $58.11.

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

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in 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 period. Morgan Stanley lifted its stake in 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 purchasing an additional 272,068 shares in the last quarter. Norges Bank purchased a new stake in Vista Outdoor in the 4th quarter worth approximately $15,725,000. Legal & General Group Plc lifted its stake in Vista Outdoor by 2.6% in the 4th quarter. Legal & General Group Plc now owns 167,486 shares of the company’s stock worth $7,716,000 after purchasing an additional 4,292 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Vista Outdoor by 1.6% in the 4th quarter. California State Teachers Retirement System now owns 79,600 shares of the company’s stock worth $3,667,000 after purchasing an additional 1,257 shares in the last quarter. 82.50% of the stock is owned by hedge funds and other institutional investors.

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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