Q2 2023 EPS Estimates for Under Armour, Inc. (NYSE:UAA) Reduced by Analyst

Under Armour, Inc. (NYSE:UAAGet Rating) – Equities researchers at Telsey Advisory Group reduced their Q2 2023 EPS estimates for shares of Under Armour in a research note issued on Thursday, July 28th. Telsey Advisory Group analyst J. Feldman now forecasts that the company will earn $0.21 per share for the quarter, down from their prior forecast of $0.25. Telsey Advisory Group has a “Outperform” rating and a $12.00 price target on the stock. The consensus estimate for Under Armour’s current full-year earnings is $0.66 per share. Telsey Advisory Group also issued estimates for Under Armour’s FY2023 earnings at $0.55 EPS and FY2024 earnings at $0.65 EPS.

Under Armour (NYSE:UAAGet Rating) last announced its quarterly earnings data on Friday, May 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Under Armour had a return on equity of 16.20% and a net margin of 3.89%. Under Armour’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 earnings per share.

Several other research firms have also issued reports on UAA. Cowen lowered shares of Under Armour from an “outperform” rating to a “hold” rating and dropped their price target for the stock from $13.00 to $10.00 in a research report on Tuesday, June 21st. Stifel Nicolaus cut their target price on Under Armour from $13.00 to $10.00 in a research report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft lowered their price target on Under Armour from $35.00 to $21.00 in a research report on Monday, May 9th. William Blair cut Under Armour to a “hold” rating in a report on Thursday, May 19th. Finally, UBS Group lowered their target price on shares of Under Armour from $18.00 to $12.00 in a report on Friday, July 15th. Eighteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.54.

Under Armour Stock Performance

UAA opened at $9.26 on Monday. The company has a current ratio of 2.30, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $9.31 and its 200-day simple moving average is $13.80. Under Armour has a 1 year low of $8.10 and a 1 year high of $27.28. The stock has a market cap of $4.41 billion, a PE ratio of 19.70 and a beta of 1.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in shares of Under Armour during the fourth quarter worth about $27,000. Washington Trust Advisors Inc. raised its holdings in Under Armour by 102.5% during the 1st quarter. Washington Trust Advisors Inc. now owns 1,472 shares of the company’s stock worth $25,000 after buying an additional 745 shares during the period. CWM LLC bought a new position in Under Armour in the fourth quarter valued at approximately $35,000. Daiwa Securities Group Inc. boosted its holdings in shares of Under Armour by 44.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,753 shares of the company’s stock valued at $37,000 after buying an additional 537 shares during the period. Finally, Cornerstone Advisory LLC bought a new stake in shares of Under Armour during the fourth quarter worth $39,000. 38.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director David W. Gibbs acquired 25,000 shares of Under Armour stock in a transaction that occurred on Tuesday, May 31st. The shares were acquired at an average price of $9.60 per share, with a total value of $240,000.00. Following the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $480,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.40% of the stock is currently owned by company insiders.

Under Armour Company Profile

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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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