Jefferies Financial Group Weighs in on Under Armour, Inc.’s Q2 2023 Earnings (NYSE:UAA)

Under Armour, Inc. (NYSE:UAAGet Rating) – Equities research analysts at Jefferies Financial Group dropped their Q2 2023 EPS estimates for shares of Under Armour in a report issued on Wednesday, August 3rd. Jefferies Financial Group analyst R. Konik now forecasts that the company will post earnings per share of $0.16 for the quarter, down from their prior forecast of $0.22. Jefferies Financial Group currently has a “Hold” rating and a $10.00 target price on the stock. The consensus estimate for Under Armour’s current full-year earnings is $0.50 per share. Jefferies Financial Group also issued estimates for Under Armour’s Q3 2023 earnings at $0.16 EPS, Q4 2023 earnings at $0.14 EPS, FY2023 earnings at $0.50 EPS, Q2 2024 earnings at $0.22 EPS, Q3 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.17 EPS and FY2024 earnings at $0.70 EPS.

Under Armour (NYSE:UAAGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Under Armour had a net margin of 2.99% and a return on equity of 11.61%. During the same quarter in the prior year, the company posted $0.24 earnings per share.

Other analysts have also recently issued research reports about the stock. Citigroup cut shares of Under Armour from a “buy” rating to a “neutral” rating and cut their target price for the stock from $19.00 to $10.00 in a research note on Monday, May 23rd. Morgan Stanley cut their target price on shares of Under Armour from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday. Barclays cut their target price on shares of Under Armour from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday. Argus cut their target price on shares of Under Armour from $19.00 to $15.00 in a research note on Wednesday, May 11th. Finally, Stifel Nicolaus cut their target price on shares of Under Armour from $13.00 to $10.00 in a research note on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.54.

Under Armour Stock Performance

Shares of UAA opened at $9.33 on Friday. The firm has a 50-day moving average of $9.26 and a 200-day moving average of $13.54. Under Armour has a one year low of $8.10 and a one year high of $27.28. The company has a market cap of $4.44 billion, a PE ratio of 25.92 and a beta of 1.35. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.06 and a quick ratio of 1.74.

Insider Activity at Under Armour

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

Institutional Investors Weigh In On Under Armour

Hedge funds have recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Under Armour by 172.6% during the 1st quarter. CWM LLC now owns 4,446 shares of the company’s stock valued at $76,000 after acquiring an additional 2,815 shares in the last quarter. Cornerstone Advisory LLC bought a new position in Under Armour during the 4th quarter worth $39,000. State of New Jersey Common Pension Fund D raised its position in Under Armour by 37.1% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 156,482 shares of the company’s stock worth $2,663,000 after purchasing an additional 42,333 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Under Armour by 7.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 17,234 shares of the company’s stock worth $365,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Versor Investments LP raised its position in Under Armour by 100.3% during the 1st quarter. Versor Investments LP now owns 48,983 shares of the company’s stock worth $834,000 after purchasing an additional 24,532 shares during the last quarter. Institutional investors and hedge funds own 38.72% of the company’s stock.

About Under Armour

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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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