Academy Sports and Outdoors Inc Up 0.55% To $48.80 After Earnings Miss

Academy Sports and Outdoors Inc (ASO) said before open Tuesday that it earned $1.3 per share in quarter one 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.On the revenue line, the company reported $1.4 billion, missing estimates by $56.4 million.In the same quarter a year ago, the company earned $1.72 per share on revenue of $1.5 billion. The stock is up 0.55% to $48.80 after the report.Academy Sports and Outdoors Inc's profit margins took a hit as earnings fell at a faster pace than revenues.Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.Academy Sports and Outdoors Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 77, putting Academy Sports and Outdoors Inc in the top 25% of stocks. The firm was recently trading at a 52-week high of $69.02 on April 12, 2023 and set a 52-week low on June 16, 2022 at $32.86.Academy Sports and Outdoors Inc is engaged in the retail business of sporting goods and outdoor recreation products. The company offers outdoor clothing, backpacks, sunglasses, luggage items, shooting equipment, fishing equipment, boating and water sports equipment, backyard recreation products, outdoor cooking equipment, fitness equipment, electronic items, dog supplies, and other products.