Zacks: Brokerages expect Loop Industries, Inc. (NASDAQ:LOOP) to post earnings per share of -$0.20

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).

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These four companies are well positioned to take advantage of this rapidly growing demand over the next 12 months and beyond. ”

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.

Further reading

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Earnings history and estimates for Loop Industries (NASDAQ:LOOP)

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