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ThecoinrepublicStockAEO Stock Forecast: Will (NYSE: AEO) Make...
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AEO Stock Forecast: Will (NYSE: AEO) Make $24 in 2023-2024?

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American Eagle’s latest quarterly balance sheet for the period ending July 2023 reported total assets of $3.43 Billion and total liabilities of $1.76 Billion. The debt-to-assets ratio is at 51.25%, which is a good sign and might not be much of a concern for AEO stock, as DTA each quarter has declined.

The AEO stock has a CMP of $16.20 and an intraday loss of 1.58%. The American Eagle Outfitters Inc. stock’s average volume for the last 10 days is 5.751 Million and its current volume is 3.438 Million. The AEO stock has a float of 181.031 Million shares and a market cap of $3.199 Billion.

The latest quarterly earnings report for the period ending July 2023, displayed a revenue of $1.20 Billion, with a net income of $48.57 Million, and a gain in profit margin from the last quarter of 4.04%. This quarter, the reported revenue exceeded analysts’ estimates by $5.615 Million (0.47%). The next quarter’s revenue is estimated to be $1.272 Billion and the report will be released on December 13th, 2023.

The next dividend for AEO stock is $0.10 per share. The ex-dividend date is October 12, 2023, and the payment date is October 27, 2023.

The stock rose from $10 to $17.50, then corrected on earnings and dropped to $14, forming a strong support at the 38.20% Fibonacci level. It bounced back and tested the trendline support, trying to hold on.

The stock could fall further if it breaks below the current level and $16, which could lead to a target of $14. Alternatively, if the stock sustains the trend and gains strong buying momentum, it could rise above $17, triggering a rally above $18 or higher.

AEO Stock Price Technical Analysis in 1-D Timeframe

Source: AEO.1D.NYSE by TradingView

At the time of publishing, the major EMA’s in American Eagle Outfitters Inc. (NYSE: AEO) are bullish MACD shows a bullish cross on the charts and RSI is at 56 above the 14 SMA.

However, the stock ratings for American Eagle stock are neutral and not highly recommended based on 13 analysts who have evaluated AEO in the last three months. The 1-year price forecasts for American Eagle stock by 12 analysts range between $12 to $24.

Summary

American Eagle Outfitters Inc. (NYSE: AEO) chart indicates that the traders and investors of the stock price are bullish on the 1-D timeframe. At the time of publishing, the price action shows a bullish outlook. The most sought and reliable technical analysis tools of American Eagle stock price also support bullishness. The EMA, RSI, and MACD highlight upward signals and indicate that an uptrend may continue for the stock price.

Technical Levels

Support Levels: $16 and $14

Resistance Levels: $17 and $18

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Ahtesham Anis
Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.
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