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American Outdoor Brands News: AOBC Stock Tanks 30% on Coronavirus Impact Worries

American Outdoor Brands (NASDAQ:AOBC) news for Friday concerning the coronavirus from China has AOBC stock taking a beating.

American Outdoor Brands News: AOBC Stock Tanks 30% on Coronavirus Impact Worries

Source: charnsitr/Shutterstock.com

American Outdoor Brands is worried about the negative effects the coronavirus will have on its fiscal 2020 year. A guidance update from its earnings report for its fiscal third quarter of 2020 reflects this.

In that earnings report, American Outdoor Brands notes that it now expects adjusted earnings per share to be between 33 cents to 37 cents for fiscal Q4 2020. That will easily have it missing Wall Street’s estimate of 45 cents for the quarter.

The same also holds true for the company’s fiscal fourth-quarter 2020 revenue outlook of $205 million to $215 million. That will have its revenue coming in below analysts’ estimates of $224.32 million.

When it comes to guidance for the fiscal full year of 2020, things aren’t looking any better for AOBC stock. The American Outdoor Brands news notes it expects adjusted EPS of 58 cents to 62 cents. For comparison, Wall Street is looking for adjusted per-share earnings of 81 cents for that period.

Moving on to the fiscal 2020 revenue estimates in the American Outdoor Brands news release doesn’t help. Expectations of $650 million to $660 million won’t put it anywhere close to analysts’ estimates of $689.65 million for the fiscal year.

American Outdoor Brands is far from the only company with worries about the coronavirus. Harley-Davidson (NYSE:HOG) was also down today on fears of the virus’ spread.

AOBC stock was down 30.49% as of Friday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/american-outdoor-brands-news-hits-aobc-stock/.

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