Zacks: Analysts Anticipate Lovesac Co (NASDAQ:LOVE) Will Announce Earnings of -$0.88 Per Share

Brokerages expect that Lovesac Co (NASDAQ:LOVE) will announce earnings of ($0.88) per share for the current quarter, Zacks reports. Three analysts have made estimates for Lovesac’s earnings, with the lowest EPS estimate coming in at ($0.90) and the highest estimate coming in at ($0.86). Lovesac posted earnings of ($0.46) per share in the same quarter last year, which suggests a negative year over year growth rate of 91.3%. The business is scheduled to report its next quarterly earnings results on Thursday, December 10th.

According to Zacks, analysts expect that Lovesac will report full-year earnings of ($0.80) per share for the current fiscal year, with EPS estimates ranging from ($0.96) to ($0.72). For the next fiscal year, analysts forecast that the business will report earnings of $0.17 per share, with EPS estimates ranging from ($0.44) to $0.86. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Lovesac.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Wednesday, September 9th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.47. The business had revenue of $61.90 million during the quarter, compared to analyst estimates of $52.35 million. Lovesac had a negative return on equity of 12.64% and a negative net margin of 4.14%. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.31) earnings per share.

A number of research analysts have issued reports on LOVE shares. Zacks Investment Research cut Lovesac from a “buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Roth Capital lifted their price target on Lovesac from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. BidaskClub raised shares of Lovesac from a “hold” rating to a “buy” rating in a research report on Thursday. Canaccord Genuity lifted their target price on shares of Lovesac from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. Finally, Oppenheimer upped their target price on shares of Lovesac from $30.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, September 11th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $34.89.

In other news, CEO Shawn David Nelson sold 6,000 shares of Lovesac stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $26.85, for a total value of $161,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,122 shares in the company, valued at $3,305,825.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 31.31% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC purchased a new position in shares of Lovesac during the 2nd quarter valued at $26,000. SG Americas Securities LLC purchased a new stake in Lovesac during the second quarter valued at approximately $133,000. Jane Street Group LLC bought a new stake in shares of Lovesac in the 1st quarter valued at approximately $61,000. PDT Partners LLC boosted its holdings in shares of Lovesac by 7.3% in the 2nd quarter. PDT Partners LLC now owns 10,823 shares of the company’s stock worth $284,000 after purchasing an additional 740 shares during the period. Finally, Deutsche Bank AG raised its holdings in Lovesac by 244.3% during the 1st quarter. Deutsche Bank AG now owns 11,396 shares of the company’s stock valued at $66,000 after buying an additional 8,086 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

NASDAQ LOVE traded up $2.03 during trading hours on Friday, reaching $29.74. 452,406 shares of the company’s stock traded hands, compared to its average volume of 437,728. Lovesac has a 52-week low of $3.99 and a 52-week high of $36.86. The firm has a 50-day simple moving average of $27.57 and a 200 day simple moving average of $20.21. The firm has a market cap of $432.24 million, a PE ratio of -39.67 and a beta of 2.65.

About Lovesac

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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Earnings History and Estimates for Lovesac (NASDAQ:LOVE)

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