Brokerages Anticipate Loop Industries, Inc. (NASDAQ:LOOP) Will Announce Earnings of -$0.20 Per Share

Equities research analysts predict that Loop Industries, Inc. (NASDAQ:LOOPGet Rating) will announce ($0.20) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Loop Industries’ earnings, with the highest EPS estimate coming in at ($0.20) and the lowest estimate coming in at ($0.21). Loop Industries posted earnings per share of ($0.32) in the same quarter last year, which would suggest a positive year-over-year growth rate of 37.5%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Loop Industries will report full year earnings of ($0.88) per share for the current year, with EPS estimates ranging from ($0.90) to ($0.86). For the next year, analysts forecast that the business will post earnings of ($0.76) per share, with EPS estimates ranging from ($1.11) to ($0.44). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Loop Industries.

Several research firms have recently weighed in on LOOP. Zacks Investment Research raised Loop Industries from a “sell” rating to a “hold” rating in a research note on Friday, February 18th. Raymond James set a $19.50 target price on Loop Industries and gave the company an “outperform” rating in a research report on Friday, March 11th.

Several institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its holdings in shares of Loop Industries by 1.8% during the fourth quarter. Handelsbanken Fonder AB now owns 2,548,462 shares of the financial services provider’s stock valued at $31,270,000 after purchasing an additional 45,000 shares during the last quarter. Handelsinvest Investeringsforvaltning increased its holdings in shares of Loop Industries by 16.7% during the 1st quarter. Handelsinvest Investeringsforvaltning now owns 350,000 shares of the financial services provider’s stock valued at $3,113,000 after acquiring an additional 50,000 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Loop Industries by 1.8% during the 4th quarter. BlackRock Inc. now owns 226,739 shares of the financial services provider’s stock valued at $2,782,000 after acquiring an additional 3,913 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Loop Industries by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 219,175 shares of the financial services provider’s stock valued at $2,505,000 after acquiring an additional 641 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Loop Industries by 18.5% during the 4th quarter. Millennium Management LLC now owns 209,825 shares of the financial services provider’s stock valued at $2,575,000 after purchasing an additional 32,785 shares during the period. Institutional investors and hedge funds own 28.52% of the company’s stock.

LOOP opened at $5.10 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 9.67 and a quick ratio of 9.67. The stock has a market capitalization of $241.68 million, a price-to-earnings ratio of -5.05 and a beta of 1.38. The business has a 50-day moving average of $7.81 and a two-hundred day moving average of $10.09. Loop Industries has a 12 month low of $4.35 and a 12 month high of $18.20.

About Loop Industries (Get Rating)

Loop Industries, Inc, a technology company, focuses on depolymerizing waste polyethylene terephthalate (PET) plastics and polyester fibers into base building blocks. It polymerized monomers into virgin-quality PET plastic for use in food-grade plastic packaging, such as plastic bottles for water and carbonated soft drinks, and containers for food and other consumer products; and polyester fibers, including carpets, clothing, and other polyester textiles.

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