BEST Inc. (NYSE:BEST) Expected to Announce Quarterly Sales of $1.29 Billion

Wall Street brokerages expect BEST Inc. (NYSE:BEST) to post $1.29 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for BEST’s earnings, with the highest sales estimate coming in at $1.31 billion and the lowest estimate coming in at $1.27 billion. BEST reported sales of $1.22 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The company is scheduled to report its next earnings report on Wednesday, November 11th.

According to Zacks, analysts expect that BEST will report full-year sales of $4.94 billion for the current financial year, with estimates ranging from $4.84 billion to $5.03 billion. For the next fiscal year, analysts expect that the business will post sales of $5.95 billion, with estimates ranging from $5.68 billion to $6.09 billion. Zacks’ sales averages are an average based on a survey of research firms that follow BEST.

BEST (NYSE:BEST) last posted its earnings results on Monday, August 17th. The company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.18. BEST had a negative return on equity of 20.02% and a negative net margin of 2.14%. The business had revenue of $8.42 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year.

Several equities analysts recently issued reports on the company. Oppenheimer restated a “buy” rating and issued a $6.00 price target on shares of BEST in a research report on Wednesday, August 19th. Zacks Investment Research cut BEST from a “hold” rating to a “sell” rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. BEST currently has a consensus rating of “Hold” and an average target price of $6.05.

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in BEST by 15,773.5% in the 1st quarter. Royal Bank of Canada now owns 5,397 shares of the company’s stock valued at $29,000 after purchasing an additional 5,363 shares in the last quarter. US Bancorp DE boosted its holdings in BEST by 991.7% in the 1st quarter. US Bancorp DE now owns 6,583 shares of the company’s stock valued at $35,000 after purchasing an additional 5,980 shares in the last quarter. Advisor Group Holdings Inc. purchased a new stake in BEST in the 1st quarter valued at approximately $45,000. Russell Investments Group Ltd. purchased a new stake in BEST in the 1st quarter valued at approximately $69,000. Finally, Engineers Gate Manager LP purchased a new stake in BEST in the 2nd quarter valued at approximately $95,000. 23.95% of the stock is currently owned by institutional investors.

Shares of BEST remained flat at $$3.00 during midday trading on Monday. The stock had a trading volume of 648,369 shares, compared to its average volume of 1,378,131. The firm has a fifty day simple moving average of $3.85 and a 200-day simple moving average of $4.68. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.86 and a quick ratio of 0.85. BEST has a twelve month low of $2.90 and a twelve month high of $6.54. The stock has a market cap of $1.18 billion, a P/E ratio of -11.58 and a beta of 0.55.

BEST Company Profile

BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.

Recommended Story: Why Invest in Dividend Kings

Get a free copy of the Zacks research report on BEST (BEST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for BEST Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BEST and related companies with MarketBeat.com's FREE daily email newsletter.