() updated its FY2024 earnings guidance Wednesday. The company gave EPS guidance for the period of $4.50 to $5.00, compared with the consensus estimate of $4.68. The company provided revenue guidance between $2.85 billion and $2.95 billion, which is lower than the consensus estimate of $3.04billion. Vista Outdoor updated its FY24 guidance from $4.50 to $5,000 per share.
Analyst Upgrades and downgrades
VSTO was the subject of many research analyst reports. In a Thursday research note, TheStreet downgraded Vista Outdoor's rating from a B- to a C. In a research report published on May 1, a note upgraded Vista Outdoor's rating from hold to buy. B. Riley lowered their price target on Vista Outdoor to $41.00 from $45.00 in a research report on Friday, Feb. 3rd. They also set a Buy rating for the stock. Three analysts gave the stock a hold recommendation and three others have given the stock a buy recommendation. Trading on Friday saw a $0.95 increase, bringing the price to $28.89. Stock traded 1,103,102 shares compared to the average of 579.140. The company has a moving average 50-day of $26.62 as well as a moving average 200-day of $26.74. Vista Outdoor's one-year low is $22.97, and its one-year high is $41.06. The market cap is $1.63 billion. It has a PE of -107.00, and a beta value of 0.94. The company's debt-to equity ratio is 0.87. Its quick ratio is 0.99, and its current ratio is 2.64.
The company last released its quarterly earnings on May 3rd. The company's earnings per share for the first quarter were $1.08, exceeding analysts' expectations of $0.90. Vista Outdoor reported a return on equity of 28,86%, and a net margin of 0.32%. The company had revenue of $740.74 millions for the quarter compared with analysts' expectations of 731.36 million. In the same quarter last year, the company earned $2.04 per share. Revenue for the company was down 8.4% from the same period last year. Analysts at equities firms expect Vista Outdoor to post 4.66 earnings per share for the current fiscal period.
Institutional Trading of Vista Outdoor
Recently, institutional investors have modified their holdings in the company. Cambridge Investment Research Advisors Inc. increased its holdings of Vista Outdoor by 76.3 percent in the first quarter. Cambridge Investment Research Advisors Inc. owns 30,825 of the company’s stock, worth $1,100,000. This is after purchasing an additional 13,341 share during the period. Cetera Advisor Networks LLC acquired a stake in Vista Outdoor worth approximately $398,000. Private Advisor Group LLC bought a stake in Vista Outdoor worth approximately $253,000 in the first quarter. Citigroup Inc. increased its stake in Vista Outdoor in the first quarter by 8.5%. Citigroup Inc. owns 52150 shares worth $1,861,000, after purchasing 4,087 additional shares. MetLife Investment Management LLC increased its Vista Outdoor holdings by 56.3% during the first quarter. MetLife Investment Management LLC owns 31,266 of the company’s shares worth $1,116,000. This is after purchasing an additional 11,257 during the period. 85.56% is owned by hedge fund and institutional investors.
About Vista Outdoor
Vista Outdoor, Inc. designs, manufactures, and markets consumer products for the outdoor sports and recreational market. The company operates in two segments: Shooting Sports, and Outdoor Products. The Shooting Sports segment includes ammunition, hunting & shooting accessory product lines and outdoor products.
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