Wedbush Comments on Under Armour, Inc.’s Q3 2024 Earnings (NYSE:UAA)

Under Armour, Inc. (NYSE:UAA) – Research analysts at Wedbush reduced their Q3 2024 earnings per share (EPS) estimates for Under Armour in a report released on Wednesday, November 8th. Wedbush analyst T. Nikic now forecasts that the company will earn $0.11 per share for the quarter, down from their previous estimate of $0.18. The consensus estimate for Under Armour’s current full-year earnings is $0.49 per share.

UAA has been the topic of several other research reports. TheStreet lowered Under Armour from a “c-” rating to a “d” rating in a research note on Tuesday, August 8th. StockNews.com assumed coverage on Under Armour in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Piper Sandler decreased their target price on Under Armour from $10.00 to $8.50 and set a “neutral” rating on the stock in a research report on Thursday. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $9.00 target price on shares of Under Armour in a research report on Thursday, November 2nd. Finally, Evercore ISI assumed coverage on Under Armour in a research report on Tuesday, November 7th. They issued an “inline” rating and a $8.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.36.

Under Armour Price Performance

NYSE:UAA opened at $7.38 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average price is $7.02 and its two-hundred day moving average price is $7.46. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 8.11, a P/E/G ratio of 1.23 and a beta of 1.69. Under Armour has a 12-month low of $6.29 and a 12-month high of $13.05.

Under Armour (NYSE:UAA) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.57 billion. Under Armour had a return on equity of 14.01% and a net margin of 7.00%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share.

Institutional Investors Weigh In On Under Armour

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Under Armour by 5.1% during the first quarter. Vanguard Group Inc. now owns 20,911,825 shares of the company’s stock worth $355,918,000 after purchasing an additional 1,017,211 shares during the last quarter. BlackRock Inc. lifted its stake in Under Armour by 3.1% during the third quarter. BlackRock Inc. now owns 16,901,026 shares of the company’s stock worth $112,390,000 after purchasing an additional 511,664 shares during the last quarter. State Street Corp lifted its stake in Under Armour by 18.9% during the second quarter. State Street Corp now owns 10,622,401 shares of the company’s stock worth $76,694,000 after purchasing an additional 1,691,535 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Under Armour by 64.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,497,305 shares of the company’s stock worth $32,470,000 after purchasing an additional 1,768,346 shares during the last quarter. Finally, Balyasny Asset Management LLC lifted its stake in Under Armour by 36.4% during the third quarter. Balyasny Asset Management LLC now owns 4,158,618 shares of the company’s stock worth $27,655,000 after purchasing an additional 1,109,408 shares during the last quarter. 38.45% of the stock is currently owned by institutional investors.

About Under Armour

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