$0.13 Earnings Per Share Expected for Sovos Brands, Inc. (NASDAQ:SOVO) This Quarter

Analysts forecast that Sovos Brands, Inc. (NASDAQ:SOVOGet Rating) will report $0.13 earnings per share for the current quarter, Zacks reports. Six analysts have made estimates for Sovos Brands’ earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.12. The firm is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Sovos Brands will report full year earnings of $0.63 per share for the current financial year, with EPS estimates ranging from $0.60 to $0.64. For the next financial year, analysts forecast that the firm will post earnings of $0.76 per share, with EPS estimates ranging from $0.68 to $0.80. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Sovos Brands.

Sovos Brands (NASDAQ:SOVOGet Rating) last issued its quarterly earnings results on Tuesday, March 15th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $189.24 million for the quarter, compared to analyst estimates of $183.53 million.

A number of research analysts recently issued reports on the stock. UBS Group assumed coverage on shares of Sovos Brands in a report on Wednesday, March 30th. They set a “buy” rating and a $16.00 price objective for the company. Telsey Advisory Group cut their price objective on shares of Sovos Brands from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 16th. Finally, Zacks Investment Research raised shares of Sovos Brands from a “sell” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sovos Brands currently has a consensus rating of “Buy” and a consensus price target of $17.73.

Several hedge funds have recently bought and sold shares of SOVO. First Mercantile Trust Co. acquired a new stake in Sovos Brands during the 3rd quarter valued at approximately $89,000. Strs Ohio bought a new position in Sovos Brands during the 4th quarter valued at $90,000. Legal & General Group Plc raised its stake in shares of Sovos Brands by 24.5% during the 4th quarter. Legal & General Group Plc now owns 6,226 shares of the company’s stock worth $94,000 after purchasing an additional 1,226 shares during the period. Citigroup Inc. bought a new stake in shares of Sovos Brands during the 4th quarter worth $105,000. Finally, Metropolitan Life Insurance Co NY bought a new stake in shares of Sovos Brands during the 4th quarter worth $121,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:SOVO opened at $15.84 on Friday. Sovos Brands has a one year low of $9.52 and a one year high of $17.41. The company has a 50 day moving average of $13.28 and a 200-day moving average of $14.20. The company has a current ratio of 2.11, a quick ratio of 1.56 and a debt-to-equity ratio of 0.94.

Sovos Brands Company Profile (Get Rating)

Sovos Brands, Inc, through its subsidiaries, manufactures and distributes consumer food products in the United States. The company operates in two segments, Dinners & Sauces, and Breakfast & Snacks. It provides pasta sauces, dry pasta, soups, frozen entrees, yogurts, pancake and waffle mixes, other baking mixes, and frozen waffles under the Rao's, Michael Angelo's, noosa, and Birch Benders brands.

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Earnings History and Estimates for Sovos Brands (NASDAQ:SOVO)

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