The Vita Coco Company, Inc. (NASDAQ:COCO) Expected to Post Earnings of $0.02 Per Share

Brokerages predict that The Vita Coco Company, Inc. (NASDAQ:COCO – Get Rating) will report earnings of $0.02 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Vita Coco’s earnings. The highest EPS estimate is $0.03 and the lowest is $0.02. The business is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Vita Coco will report full-year earnings of $0.35 per share for the current fiscal year, with EPS estimates ranging from $0.30 to $0.38. For the next year, analysts expect that the firm will post earnings of $0.56 per share, with EPS estimates ranging from $0.46 to $0.64. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Vita Coco.

Vita Coco (NASDAQ:COCO – Get Rating) last released its earnings results on Thursday, March 10th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06).

Several analysts have weighed in on COCO shares. Bank of America lowered shares of Vita Coco from a “buy” rating to a “neutral” rating and lowered their target price for the company from $15.00 to $10.00 in a research note on Monday, March 14th. Credit Suisse Group lowered their target price on shares of Vita Coco from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, March 11th. The Goldman Sachs Group reduced their price target on shares of Vita Coco from $19.00 to $17.00 and set a “buy” rating for the company in a report on Monday, April 4th. Finally, Wells Fargo & Company reduced their price target on shares of Vita Coco from $15.00 to $11.00 and set an “overweight” rating for the company in a report on Friday, March 11th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $15.43.

In related news, CEO Martin F. Roper acquired 25,000 shares of Vita Coco stock in a transaction that occurred on Friday, March 18th. The stock was acquired at an average price of $9.06 per share, with a total value of $226,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth Sadowsky acquired 10,000 shares of Vita Coco stock in a transaction that occurred on Monday, March 14th. The stock was bought at an average cost of $7.87 per share, with a total value of $78,700.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 85,000 shares of company stock valued at $727,700. Corporate insiders own 7.16% of the company’s stock.

A number of hedge funds have recently bought and sold shares of COCO. Strs Ohio acquired a new stake in Vita Coco in the fourth quarter worth about $29,000. TimesSquare Capital Management LLC acquired a new stake in Vita Coco in the fourth quarter worth about $8,715,000. Northern Trust Corp acquired a new stake in Vita Coco in the 4th quarter valued at about $1,149,000. Bank of America Corp DE acquired a new stake in Vita Coco in the 4th quarter valued at about $1,416,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Vita Coco in the 4th quarter valued at about $209,000. 1.86% of the stock is owned by institutional investors and hedge funds.

COCO stock opened at $10.86 on Wednesday. Vita Coco has a 1-year low of $7.51 and a 1-year high of $18.61. The company’s fifty day simple moving average is $9.74.

Vita Coco Company Profile (Get Rating)

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.

Recommended Stories