Analysts forecast that Lovesac Co (NASDAQ:LOVE) will post $0.34 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Lovesac’s earnings, with the highest EPS estimate coming in at $0.39 and the lowest estimate coming in at $0.30. Lovesac reported earnings of $0.63 per share during the same quarter last year, which indicates a negative year over year growth rate of 46%. The business is expected to announce its next earnings results on Tuesday, May 5th.
According to Zacks, analysts expect that Lovesac will report full year earnings of ($1.09) per share for the current fiscal year, with EPS estimates ranging from ($1.11) to ($1.05). For the next financial year, analysts expect that the company will report earnings of ($0.77) per share, with EPS estimates ranging from ($0.94) to ($0.60). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Lovesac.
Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, December 12th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). The business had revenue of $52.10 million for the quarter, compared to analysts’ expectations of $54.29 million. Lovesac had a negative return on equity of 14.54% and a negative net margin of 5.93%. Lovesac’s revenue was up 24.9% on a year-over-year basis.
LOVE has been the topic of several research analyst reports. Odeon Capital Group assumed coverage on shares of Lovesac in a report on Friday. They set a “buy” rating and a $25.00 price target on the stock. Stifel Nicolaus cut shares of Lovesac from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $32.00 to $13.00 in a research note on Thursday, December 12th. Zacks Investment Research cut shares of Lovesac from a “hold” rating to a “sell” rating in a research note on Saturday, January 18th. ValuEngine lowered shares of Lovesac from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 31st. Finally, Craig Hallum reduced their target price on shares of Lovesac from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $27.00.
In other Lovesac news, Director Andrew R. Heyer acquired 2,500 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $14.73 per share, for a total transaction of $36,825.00. Following the purchase, the director now directly owns 16,960 shares of the company’s stock, valued at $249,820.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Albert Jack Krause acquired 6,816 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $14.73 per share, with a total value of $100,399.68. Following the purchase, the chief operating officer now directly owns 121,750 shares in the company, valued at $1,793,377.50. The disclosure for this purchase can be found here. Insiders acquired a total of 43,776 shares of company stock valued at $600,104 in the last quarter. Corporate insiders own 54.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of LOVE. Wells Fargo & Company MN raised its stake in Lovesac by 153.5% in the 2nd quarter. Wells Fargo & Company MN now owns 8,217 shares of the company’s stock worth $255,000 after purchasing an additional 4,976 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Lovesac by 205.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,778 shares of the company’s stock valued at $948,000 after buying an additional 22,035 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Lovesac by 6.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,655 shares of the company’s stock valued at $425,000 after buying an additional 775 shares during the period. Bank of New York Mellon Corp increased its holdings in Lovesac by 168.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,301 shares of the company’s stock valued at $1,531,000 after buying an additional 30,943 shares during the period. Finally, Northern Trust Corp increased its holdings in Lovesac by 7.0% in the 2nd quarter. Northern Trust Corp now owns 74,478 shares of the company’s stock valued at $2,314,000 after buying an additional 4,850 shares during the period. Institutional investors and hedge funds own 82.10% of the company’s stock.
NASDAQ:LOVE traded down $0.61 during mid-day trading on Friday, reaching $13.06. The stock had a trading volume of 162,686 shares, compared to its average volume of 356,899. The stock’s 50 day simple moving average is $13.86 and its two-hundred day simple moving average is $17.39. Lovesac has a 1-year low of $10.33 and a 1-year high of $46.79. The company has a market capitalization of $196.42 million, a price-to-earnings ratio of -15.55 and a beta of 0.19.
Lovesac Company Profile
The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans.
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