Under Armour (UA) posted its quarterly earnings results on
Thursday, reporting $0.62 (about Rs 31) earnings per share (EPS) for the quarter. Consensus estimates were of $0.60 (about Rs 30). The company’s revenue for the quarter lifted by 33.9 per cent compared to last year.
Under Armour´s quarterly revenue climbed up to $403.1 million (Rs 2,025 crores), higher than the 23 analysts polled by S&P Capital IQ´s forecast of $402.8 million (Rs 2,024 crores). In a week plenty of corporate news, Under Armour has not let down anyone, as its sales were 34 per cent higher than the prior-year quarter's USD301.2 million (Rs 1,512 crores), company released on Thursday.
It is worthy highlighting that analysts at Telsey Advisory Group initiated coverage on shares of Under Armour in a research note to investors on Monday. They set a $91.00 (about Rs 4,573) price target on the stock, while their peers at Goldman Sachs reiterated a “buy” rating on shares of Under Armour in a research note to investors also issued on Monday. Finally, analysts at Auriga cut their price target on shares of Under Armour to $70.00 (about Rs 3,518) and now have a “hold” rating on the stock.
Under Armour, that opened at 77.49 (Rs 3,894) on Thursday, has a 52-week low of $52.62 (Rs 2,644) and a 52-week high of $87.40 (Rs 4,392). The company has a market cap of $4.007 billion (Rs 18,399 crores) and a price-to-earnings ratio of 46.29.
Elsewhere, in Japan, Fast Retailing Co. increased 50 yen (Rs 32) to 14,970 yen (Rs 9,693), while stocks in Tokyo trading traded lower as commodities prices gained and a weaker than expected earnings from Fanuc dragged industrial stocks lower, Ticker reported.
Finally, True Religion Apparel, Inc. – which started trading Thursday up by over 60 per cent - announced that the company will release its financial results for the fourth quarter and year ended December 31, 2011, after the market close on Thursday, February 9, 2012.