QuantumScape Co. (NYSE:QS) Expected to Announce Earnings of -$0.17 Per Share

Equities analysts expect that QuantumScape Co. (NYSE:QS – Get Rating) will post earnings per share (EPS) of ($0.17) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for QuantumScape’s earnings. QuantumScape posted earnings per share of ($0.12) in the same quarter last year, which suggests a negative year over year growth rate of 41.7%. The company is scheduled to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that QuantumScape will report full year earnings of ($0.79) per share for the current year, with EPS estimates ranging from ($0.79) to ($0.78). For the next year, analysts expect that the firm will report earnings of ($0.88) per share, with EPS estimates ranging from ($0.88) to ($0.87). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow QuantumScape.

QuantumScape (NYSE:QS – Get Rating) last issued its quarterly earnings data on Wednesday, February 16th. The company reported ($0.16) earnings per share for the quarter. During the same quarter in the previous year, the company earned ($0.15) EPS.

QS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on QuantumScape from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, February 22nd. Zacks Investment Research downgraded shares of QuantumScape from a “hold” rating to a “strong sell” rating in a report on Friday, February 25th. Sumitomo Mitsui Financial Group assumed coverage on shares of QuantumScape in a report on Tuesday, March 29th. They set a “neutral” rating and a $20.00 price target for the company. UBS Group assumed coverage on QuantumScape in a research note on Friday, January 28th. They issued a “neutral” rating and a $18.00 price objective on the stock. Finally, Morgan Stanley decreased their target price on QuantumScape from $40.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.33.

Shares of QS traded down $0.88 during trading hours on Wednesday, hitting $17.07. 103,503 shares of the company were exchanged, compared to its average volume of 8,197,327. The company has a debt-to-equity ratio of 0.02, a quick ratio of 47.81 and a current ratio of 47.81. The company has a market cap of $7.34 billion, a PE ratio of -27.90 and a beta of 9.08. The firm’s 50 day moving average is $16.96 and its 200-day moving average is $22.00. QuantumScape has a 52 week low of $13.21 and a 52 week high of $43.08.

In other QuantumScape news, CTO Timothy Holme sold 288,519 shares of QuantumScape stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $14.37, for a total transaction of $4,146,018.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mohit Singh sold 5,360 shares of the business’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $15.32, for a total transaction of $82,115.20. The disclosure for this sale can be found here. Insiders have sold 957,174 shares of company stock worth $15,845,314 in the last quarter. Corporate insiders own 16.22% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of QS. Ancora Advisors LLC acquired a new position in shares of QuantumScape in the 3rd quarter worth approximately $25,000. Ahrens Investment Partners LLC acquired a new position in QuantumScape in the fourth quarter worth $25,000. CarsonAllaria Wealth Management Ltd. acquired a new position in QuantumScape in the fourth quarter worth $25,000. Wolff Wiese Magana LLC grew its holdings in shares of QuantumScape by 116.7% during the fourth quarter. Wolff Wiese Magana LLC now owns 1,300 shares of the company’s stock worth $29,000 after purchasing an additional 700 shares during the last quarter. Finally, Atticus Wealth Management LLC acquired a new stake in shares of QuantumScape in the first quarter valued at $27,000. 20.03% of the stock is owned by institutional investors.

QuantumScape Company Profile (Get Rating)

QuantumScape Corporation, a development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.

See Also