Krispy Kreme (NASDAQ:DNUT) Releases Earnings Results, Beats Estimates By $0.07 EPS

Krispy Kreme (NASDAQ:DNUT) issued its quarterly earnings results on Thursday. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.07, Zacks reports. Krispy Kreme had a negative return on equity of 5.55% and a negative net margin of 29.33%.The firm had revenue of $375.30 million during the quarter, compared to analysts’ expectations of $378.29 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year.

Krispy Kreme Price Performance

Krispy Kreme stock traded up $0.14 during mid-day trading on Thursday, reaching $3.91. 12,128,176 shares of the company were exchanged, compared to its average volume of 14,582,350. The company has a fifty day simple moving average of $3.50 and a 200-day simple moving average of $3.41. Krispy Kreme has a 12 month low of $2.50 and a 12 month high of $12.27. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.34 and a quick ratio of 0.26. The firm has a market cap of $669.39 million, a PE ratio of -1.48 and a beta of 1.33.

Hedge Funds Weigh In On Krispy Kreme

A number of hedge funds have recently added to or reduced their stakes in DNUT. Captrust Financial Advisors bought a new position in shares of Krispy Kreme in the 2nd quarter valued at $34,000. Two Sigma Securities LLC bought a new position in shares of Krispy Kreme in the 2nd quarter valued at $344,000. Oxford Asset Management LLP bought a new position in shares of Krispy Kreme in the 2nd quarter valued at $42,000. Engineers Gate Manager LP bought a new position in shares of Krispy Kreme in the 2nd quarter valued at $183,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Krispy Kreme during the 2nd quarter valued at $1,567,000. Institutional investors own 81.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Zacks Research cut Krispy Kreme from a “hold” rating to a “strong sell” rating in a research report on Monday, August 25th. Capital One Financial dropped their price target on Krispy Kreme from $6.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, October 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Krispy Kreme in a report on Wednesday, October 8th. Morgan Stanley dropped their price target on Krispy Kreme from $3.00 to $2.50 and set an “overweight” rating for the company in a report on Monday, July 14th. Finally, Bank of America lowered their price objective on Krispy Kreme from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.45.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.