Wall Street brokers expect Loop Industries, Inc. (NASDAQ:LOOP – Get Rating) to report ($0.20) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts provided earnings estimates for Loop Industries. The highest EPS estimate is ($0.20) and the lowest is ($0.21). Loop Industries reported earnings of ($0.32) per share in the same quarter last year, which would indicate a positive growth rate of 37.5% year over year. The company is expected to announce its next quarterly earnings report on Tuesday, June 7.
On average, analysts expect Loop Industries to report annual earnings of $0.88 per share for the current year, with EPS estimates ranging from $0.90 to $0.86. For the next fiscal year, analysts expect the company to report earnings of ($0.76) per share, with EPS estimates ranging from ($1.11) to ($0.44). Zacks’ earnings per share calculations are an average average based on a survey of sell-side research firms that provide coverage for Loop Industries.
Loop Industries (NASDAQ:LOOP – Get Rating) last reported quarterly results on Tuesday, January 11. The financial services provider reported ($0.21) earnings per share for the quarter, missing Thomson Reuters consensus estimate of ($0.17) by ($0.04).
Several analysts have recently commented on LOOP stocks. Raymond James set a price target of $19.50 on Loop Industries shares and gave the company an “outperform” rating in a Friday, January 28 research report. Zacks Investment Research moved shares of Loop Industries from a “sell” rating to a “hold” rating in a Friday, February 18 research report.
Shares of LOOP opened at $7.43 on Wednesday. Loop Industries has a 12 month minimum of $5.90 and a 12 month maximum of $18.20. The company has a current ratio of 9.67, a quick ratio of 9.67 and a debt ratio of 0.06. The company’s 50-day moving average is $8.48 and its 200-day moving average is $11.07. The stock has a market capitalization of $352.09 million, a P/E ratio of -7.36 and a beta of 1.22.
Institutional investors have recently been buying and selling shares of the company. Handelsbanken Fonder AB increased its stake in Loop Industries shares by 1.8% during the 4th quarter. Handelsbanken Fonder AB now owns 2,548,462 shares of the financial services provider worth $31,270,000 after purchasing an additional 45,000 shares during the period. Vanguard Group Inc. increased its stake in Loop Industries shares by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 334,608 shares of the financial services provider worth $4,126,000 after purchasing an additional 15,174 shares during the period. BlackRock Inc. increased its stake in Loop Industries shares by 1.8% during the 4th quarter. BlackRock Inc. now owns 226,739 shares of the financial services provider worth $2,782,000 after purchasing an additional 3,913 shares during the period. Geode Capital Management LLC increased its stake in the shares of Loop Industries by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 219,175 shares of the financial services provider worth $2,505,000 after purchasing an additional 641 shares during the period. Finally, Millennium Management LLC increased its stake in the shares of Loop Industries by 18.5% during the 4th quarter. Millennium Management LLC now owns 209,825 shares of the financial services provider worth $2,575,000 after purchasing an additional 32,785 shares during the period. Hedge funds and other institutional investors own 10.87% of the company’s shares.
About Loop Industries (Get a rating)
Loop Industries, Inc. focuses on the depolymerization of polyethylene terephthalate (PET) plastics and polyester fibers into basic building blocks. It repolymerized virgin-grade PET plastic monomers for use in food-grade plastic packaging, such as water and soda bottles; and polyester fibers including carpets and garments for textile applications to consumer goods companies. The company was founded by Daniel Solomita in 2015 and is headquartered in Terrebonne, Canada.
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