Overstock.com, Inc. (NASDAQ:OSTK) Expected to Post Quarterly Sales of $570.20 Million

Equities analysts predict that Overstock.com, Inc. (NASDAQ:OSTKGet Rating) will report sales of $570.20 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Overstock.com’s earnings. The lowest sales estimate is $560.90 million and the highest is $579.50 million. Overstock.com reported sales of $659.86 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 13.6%. The company is expected to announce its next quarterly earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Overstock.com will report full-year sales of $2.89 billion for the current year, with estimates ranging from $2.77 billion to $3.02 billion. For the next financial year, analysts forecast that the firm will post sales of $3.29 billion, with estimates ranging from $3.25 billion to $3.32 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Overstock.com.

Overstock.com (NASDAQ:OSTKGet Rating) last announced its earnings results on Thursday, April 28th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $536.00 million for the quarter, compared to analysts’ expectations of $573.26 million. Overstock.com had a return on equity of 23.39% and a net margin of 14.13%. The business’s revenue was down 18.8% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share.

Several brokerages recently weighed in on OSTK. Bank of America downgraded Overstock.com from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $38.00 in a report on Monday. Zacks Investment Research downgraded Overstock.com from a “hold” rating to a “strong sell” rating and set a $31.00 price target for the company. in a report on Wednesday, February 23rd. StockNews.com began coverage on Overstock.com in a report on Thursday, March 31st. They set a “hold” rating for the company. Needham & Company LLC decreased their price target on Overstock.com from $150.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, January 25th. Finally, Piper Sandler decreased their price target on Overstock.com from $140.00 to $85.00 in a report on Friday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $87.25.

Shares of OSTK opened at $32.28 on Friday. The company has a current ratio of 2.03, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.54 billion, a PE ratio of 3.98, a price-to-earnings-growth ratio of 0.95 and a beta of 3.92. The company’s 50 day simple moving average is $44.76 and its 200-day simple moving average is $61.62. Overstock.com has a 12-month low of $29.67 and a 12-month high of $111.28.

In related news, Director Allison H. Abraham sold 3,333 shares of Overstock.com stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $44.67, for a total transaction of $148,885.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Glen Nickle sold 1,000 shares of Overstock.com stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $40.03, for a total value of $40,030.00. Following the sale, the insider now owns 12,979 shares of the company’s stock, valued at approximately $519,549.37. 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 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Belpointe Asset Management LLC grew its holdings in Overstock.com by 19.6% in the 1st quarter. Belpointe Asset Management LLC now owns 18,754 shares of the company’s stock valued at $826,000 after buying an additional 3,070 shares during the period. Arbor Capital Management Inc. ADV grew its holdings in Overstock.com by 37.4% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 46,124 shares of the company’s stock valued at $1,988,000 after buying an additional 12,546 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in Overstock.com by 9.5% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 209,185 shares of the company’s stock valued at $9,205,000 after buying an additional 18,230 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in Overstock.com by 62.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 41,566 shares of the company’s stock valued at $1,829,000 after buying an additional 16,032 shares during the period. Finally, Wiley BROS. Aintree Capital LLC grew its holdings in Overstock.com by 35.4% in the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 19,535 shares of the company’s stock valued at $860,000 after buying an additional 5,110 shares during the period. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Overstock.com Company Profile (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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