What Analyst Projections for Key Metrics Reveal About Academy Sports and Outdoors (ASO) Q3 Earnings

Wall Street analysts expect Academy Sports and Outdoors, Inc. (ASO) to post quarterly earnings of $1.07 per share in its upcoming report, which indicates a year-over-year increase of 9.2%. Revenues are expected to be $1.4 billion, up 4.3% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.Given this perspective, it's time to examine the average forecasts of specific Academy Sports and Outdoors metrics that are routinely monitored and predicted by Wall Street analysts.It is projected by analysts that the 'Net Sales- Merchandise Division Sales- Outdoors' will reach $422.53 million. The estimate suggests a change of -2.1% year over year.The consensus estimate for 'Net Sales- Merchandise Division Sales- Sports and recreation' stands at $286.63 million. The estimate points to a change of +3.5% from the year-ago quarter.Analysts expect 'Net Sales- Other Sales' to come in at $35.74 million. The estimate indicates a change of +383% from the prior-year quarter.Analysts predict that the 'Net Sales- Merchandise Division Sales- Footwear' will reach $291.23 million. The estimate suggests a change of +2% year over year.According to the collective judgment of analysts, 'Net Sales- Total Merchandise Sales' should come in at $1.37 billion. The estimate points to a change of +2.2% from the year-ago quarter.The consensus among analysts is that 'Net Sales- Merchandise Division Sales- Apparel' will reach $365.51 million. The estimate indicates a change of +7% from the prior-year quarter.Analysts forecast 'Stores - EOP' to reach 316 . The estimate is in contrast to the year-ago figure of 298 .Analysts' assessment points toward 'New stores open' reaching 10 . Compared to the current estimate, the company reported 8 in the same quarter of the previous year. View all Key Company Metrics for Academy Sports and Outdoors here>>> Academy Sports and Outdoors shares have witnessed a change of +5.8% in the past month, in contrast to the Zacks S&P 500 composite's +0.1% move. With a Zacks Rank #3 (Hold), ASO is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Academy Sports and Outdoors, Inc. (ASO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks