Market News

ASO Posts Mixed Q3

Sporting and outdoor goods retailer Academy Sports and Outdoors (NASDAQ:ASO) has delivered a mixed set of third-quarter numbers.

Revenue dropped 6.3% year-over-year to $1.49 billion, missing estimates by $60 million. EPS at $1.69, on the other hand, came in ahead of expectations by $0.10.  Further, comparable sales of the company declined by 7.2% during this period.

Looking ahead, for fiscal 2023, ASO now expects the top line to range between $6.43 billion and $6.49 billion (earlier expectation between $6.43 billion and $6.63 billion).

EPS is anticipated between $7.50 and $7.65. (earlier expectation between $6.75 and $7.50). Additionally, ASO has also declared a $0.075 dividend per share. The dividend is payable on January 13 to investors of record on December 20.

The Street has a Strong Buy consensus rating on the stock alongside an average price target of $58.

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