Zacks: Analysts Anticipate Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Will Announce Earnings of -$0.55 Per Share

Analysts expect that Eos Energy Enterprises, Inc. (NASDAQ:EOSEGet Rating) will announce earnings of ($0.55) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Eos Energy Enterprises’ earnings. The lowest EPS estimate is ($0.60) and the highest is ($0.50). Eos Energy Enterprises reported earnings per share of ($0.42) during the same quarter last year, which suggests a negative year over year growth rate of 31%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Eos Energy Enterprises will report full year earnings of ($2.16) per share for the current fiscal year, with EPS estimates ranging from ($2.31) to ($2.00). For the next fiscal year, analysts forecast that the company will report earnings of ($0.99) per share, with EPS estimates ranging from ($1.01) to ($0.97). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Eos Energy Enterprises.

Eos Energy Enterprises (NASDAQ:EOSEGet Rating) last posted its quarterly earnings data on Friday, February 25th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.10). The firm had revenue of $3.10 million during the quarter, compared to the consensus estimate of $3.56 million. Eos Energy Enterprises had a negative return on equity of 144.26% and a negative net margin of 2,701.52%. During the same quarter last year, the company posted ($7.04) EPS.

A number of research firms have recently commented on EOSE. B. Riley cut their target price on Eos Energy Enterprises from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, February 28th. Zacks Investment Research downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday, March 2nd. Finally, Guggenheim initiated coverage on Eos Energy Enterprises in a research note on Tuesday, March 22nd. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $20.20.

EOSE opened at $2.40 on Friday. Eos Energy Enterprises has a 12-month low of $2.34 and a 12-month high of $21.80. The company has a market cap of $129.50 million, a price-to-earnings ratio of -1.01 and a beta of 1.54. The stock has a fifty day simple moving average of $3.43 and a two-hundred day simple moving average of $6.59. The company has a current ratio of 4.77, a quick ratio of 4.33 and a debt-to-equity ratio of 3.16.

In related news, Director Claude Demby bought 13,200 shares of the company’s stock in a transaction dated Thursday, March 3rd. The stock was purchased at an average price of $3.79 per share, for a total transaction of $50,028.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Joe Mastrangelo bought 35,000 shares of the company’s stock in a transaction dated Tuesday, March 1st. The stock was bought at an average price of $2.88 per share, with a total value of $100,800.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 121,350 shares of company stock valued at $355,179 in the last 90 days. 8.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of EOSE. Royal Bank of Canada raised its position in Eos Energy Enterprises by 63.4% during the 2nd quarter. Royal Bank of Canada now owns 2,618 shares of the company’s stock valued at $48,000 after purchasing an additional 1,016 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Eos Energy Enterprises during the 3rd quarter valued at $51,000. Ionic Capital Management LLC raised its position in Eos Energy Enterprises by 59.4% during the 3rd quarter. Ionic Capital Management LLC now owns 4,834 shares of the company’s stock valued at $68,000 after purchasing an additional 1,801 shares in the last quarter. Citigroup Inc. raised its position in Eos Energy Enterprises by 451.1% during the 3rd quarter. Citigroup Inc. now owns 4,861 shares of the company’s stock valued at $68,000 after purchasing an additional 3,979 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Eos Energy Enterprises by 416.3% during the 2nd quarter. Bank of America Corp DE now owns 6,222 shares of the company’s stock valued at $111,000 after purchasing an additional 5,017 shares in the last quarter. Institutional investors own 59.44% of the company’s stock.

About Eos Energy Enterprises (Get Rating)

Eos Energy Enterprises, Inc designs, manufactures, and deploys battery storage solutions for utility, commercial and industrial, and renewable energy markets in the United States. It offers stationary battery storage solutions. The company's flagship product is the Eos Znyth DC battery system designed to meet the requirements of the grid-scale energy storage market.

Further Reading

Get a free copy of the Zacks research report on Eos Energy Enterprises (EOSE)

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

Earnings History and Estimates for Eos Energy Enterprises (NASDAQ:EOSE)

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