Zacks: Brokerages Anticipate Overstock.com, Inc. (NASDAQ:OSTK) Will Announce Earnings of $0.23 Per Share

Equities research analysts expect Overstock.com, Inc. (NASDAQ:OSTK – Get Rating) to announce earnings of $0.23 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Overstock.com’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.32. Overstock.com posted earnings per share of $0.56 in the same quarter last year, which indicates a negative year-over-year growth rate of 58.9%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Overstock.com will report full-year earnings of $2.32 per share for the current year, with EPS estimates ranging from $2.11 to $2.43. For the next financial year, analysts forecast that the business will report earnings of $2.94 per share, with EPS estimates ranging from $2.68 to $3.33. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Overstock.com.

Overstock.com (NASDAQ:OSTK – Get Rating) last released its quarterly earnings data on Wednesday, February 23rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. Overstock.com had a net margin of 14.13% and a return on equity of 23.39%. The company had revenue of $612.70 million during the quarter, compared to analysts’ expectations of $643.99 million. During the same period in the previous year, the company earned $0.26 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis.

Several research firms have recently weighed in on OSTK. Zacks Investment Research downgraded shares of Overstock.com from a “hold” rating to a “strong sell” rating and set a $31.00 price target on the stock. in a research note on Wednesday, February 23rd. StockNews.com started coverage on shares of Overstock.com in a report on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler reduced their price objective on shares of Overstock.com from $140.00 to $85.00 in a research report on Friday, February 18th. Finally, Needham & Company LLC dropped their price objective on shares of Overstock.com from $150.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, January 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $99.14.

Shares of NASDAQ:OSTK traded down $0.21 during midday trading on Tuesday, reaching $39.99. The company’s stock had a trading volume of 1,734,088 shares, compared to its average volume of 2,509,750. The stock has a fifty day moving average of $47.78 and a 200 day moving average of $65.23. Overstock.com has a twelve month low of $35.67 and a twelve month high of $111.28. The firm has a market capitalization of $1.91 billion, a PE ratio of 4.93, a P/E/G ratio of 1.08 and a beta of 3.92. The company has a quick ratio of 2.01, a current ratio of 2.03 and a debt-to-equity ratio of 0.05.

In other Overstock.com news, insider Eric Glen Nickle sold 1,000 shares of the business’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $40.03, for a total value of $40,030.00. Following the transaction, the insider now owns 12,979 shares of the company’s stock, valued at $519,549.37. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President David J. Nielsen sold 7,200 shares of the company’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $50.05, for a total value of $360,360.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,569 shares of company stock valued at $899,645 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Wiley BROS. Aintree Capital LLC boosted its holdings in shares of Overstock.com by 34.6% during the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 19,410 shares of the company’s stock valued at $854,000 after acquiring an additional 4,985 shares in the last quarter. Meixler Investment Management Ltd. bought a new stake in Overstock.com during the 4th quarter worth approximately $979,000. Norges Bank purchased a new position in shares of Overstock.com in the 4th quarter worth approximately $9,032,000. BlackRock Inc. lifted its stake in Overstock.com by 2.7% in the fourth quarter. BlackRock Inc. now owns 3,529,797 shares of the company’s stock valued at $208,295,000 after purchasing an additional 94,069 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Overstock.com by 20.4% in the fourth quarter. Wells Fargo & Company MN now owns 69,269 shares of the company’s stock valued at $4,089,000 after purchasing an additional 11,727 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

About Overstock.com (Get Rating)

Overstock.com, Inc operates as an online retailer in the United States. The company offers furniture, décor, area rug, bedding and bath, home improvement, outdoor, and kitchen and dining items. It provides its products and services through its internet websites comprising overstock.com, o.co, overstock.ca, and overstockgovernment.com.

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