Academy Sports and Outdoors Likely To Report Higher Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Core Viewpoint - Academy Sports and Outdoors, Inc. is set to release its third-quarter earnings results on December 9, with expectations of improved earnings and revenue compared to the previous year [1] Earnings Expectations - Analysts predict quarterly earnings of $1.06 per share, an increase from $0.98 per share in the same period last year [1] - The consensus estimate for quarterly revenue is $1.41 billion, up from $1.34 billion a year earlier [1] Recent Performance - In the second quarter, the company reported adjusted earnings per share of $1.94, which fell short of the analyst consensus estimate of $2.16 [2] - Quarterly sales were $1.599 billion, reflecting a 3.3% year-over-year increase, but also missed the expected $1.614 billion [2] - Following the second-quarter report, shares rose by 1.9% to close at $50.23 [2] Analyst Ratings - Evercore ISI Group analyst Greg Melich maintained an In-Line rating and raised the price target from $50 to $55 [5] - Barclays analyst Adrienne Yih initiated coverage with an Equal-Weight rating and a price target of $51 [5] - Guggenheim analyst John Heinbockel maintained a Buy rating with a price target of $60 [5] - Citigroup analyst Paul Lejuez downgraded the stock from Buy to Neutral, lowering the price target from $55 to $50 [5] - JP Morgan analyst Christopher Horvers maintained a Neutral rating and raised the price target from $54 to $56 [5]