Earnings Previews: Academy Sports, Broadcom, Costco, Lululemon, Oracle\u00a0
This is our last earnings preview report for this week. There are no notable reports due out either Monday or Tuesday. Our next preview will be posted Monday.
After markets close Wednesday and before they open on Thursday, results are due from three companies: Ciena, GameStop and Hormel.
Here’s a look at five more companies set to report results after markets close Thursday and before Friday’s opening bell.
Academy Sports
Sporting gear retailer Academy Sports and Outdoors Inc. (NASDAQ: ASO) has seen its share price soar by 240% since its October 2020 initial public offering. Since late June, however, the stock is up by just 4%, including a leap of almost 50% between August 9 and November 19. EBIT margins settled into the mid-teens in the prior two quarters, and gross margin has hovered around 35%. Analysts are going to want to see no less (and more is better) when the Academy Sports reports third-quarter results first thing on Friday.
Analyst sentiment on the stock is solidly bullish, with 10 of 11 brokerages giving the shares a Buy or Strong Buy rating. The other rating is a Hold. At a recent price of around $44.20 a share, the upside potential based on a median price target of $55 is 24.4%. At the high price target of $65, the upside potential is 47%.
The third-quarter revenue estimate is $1.49 billion, which would be down 17% sequentially but 8.1% higher year over year. Adjusted earnings per share (EPS) are forecast at $1.09, down nearly 54% sequentially and up nearly 20% year over year. For the full 2022 fiscal year ending in January, EPS are forecast at $6.42, up 68%, on sales of $6.59 billion, up nearly 16%.
The share price to earnings multiple for fiscal 2022 is 6.9. For fiscal 2023, the multiple to estimated EPS of $5.56 is 7.9, and for 2024, it is 7.2 times estimated EPS of $6.15. The stock’s 52-week range is $15.71 to $51.08. The company does not pay a dividend. Total shareholder return for the past year was 176%.
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