Velodyne Lidar, Inc. (NASDAQ:VLDR) Expected to Announce Earnings of -$0.29 Per Share

Brokerages forecast that Velodyne Lidar, Inc. (NASDAQ:VLDRGet Rating) will report earnings per share (EPS) of ($0.29) for the current quarter, Zacks reports. Zero analysts have issued estimates for Velodyne Lidar’s earnings, with the lowest EPS estimate coming in at ($0.32) and the highest estimate coming in at ($0.25). Velodyne Lidar posted earnings per share of ($0.18) in the same quarter last year, which indicates a negative year over year growth rate of 61.1%. The company is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Velodyne Lidar will report full year earnings of ($0.95) per share for the current financial year. For the next fiscal year, analysts forecast that the company will post earnings of ($0.58) per share, with EPS estimates ranging from ($0.60) to ($0.55). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Velodyne Lidar.

Velodyne Lidar (NASDAQ:VLDRGet Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $6.20 million during the quarter, compared to analyst estimates of $10.10 million. Velodyne Lidar had a negative net margin of 440.65% and a negative return on equity of 73.29%. Velodyne Lidar’s quarterly revenue was down 65.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.20) EPS.

A number of equities analysts have recently commented on the stock. Needham & Company LLC decreased their price target on shares of Velodyne Lidar from $7.50 to $5.90 and set a “buy” rating on the stock in a report on Tuesday, March 1st. Zacks Investment Research raised shares of Velodyne Lidar from a “sell” rating to a “hold” rating in a report on Wednesday. Citigroup decreased their price target on shares of Velodyne Lidar from $3.50 to $2.00 and set a “na” rating on the stock in a report on Monday, May 16th. Finally, Craig Hallum lowered shares of Velodyne Lidar from a “hold” rating to a “sell” rating and decreased their price target for the stock from $3.50 to $2.50 in a report on Tuesday, March 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Velodyne Lidar has a consensus rating of “Hold” and an average price target of $6.57.

In other news, major shareholder David S. Hall sold 5,600,000 shares of the firm’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $2.21, for a total value of $12,376,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David S. Hall sold 6,000,000 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $3.07, for a total transaction of $18,420,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 135,000 shares of company stock worth $275,400 and have sold 25,769,939 shares worth $59,463,022. 13.30% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Velodyne Lidar during the 1st quarter valued at about $9,148,000. Renaissance Technologies LLC purchased a new position in Velodyne Lidar during the 1st quarter valued at about $5,037,000. JPMorgan Chase & Co. lifted its position in Velodyne Lidar by 588.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,583,843 shares of the company’s stock valued at $4,053,000 after acquiring an additional 1,353,640 shares during the period. BlackRock Inc. lifted its position in Velodyne Lidar by 22.6% during the 4th quarter. BlackRock Inc. now owns 5,848,890 shares of the company’s stock valued at $27,141,000 after acquiring an additional 1,079,557 shares during the period. Finally, State Street Corp lifted its position in Velodyne Lidar by 51.1% during the 4th quarter. State Street Corp now owns 2,811,594 shares of the company’s stock valued at $13,046,000 after acquiring an additional 950,786 shares during the period. 29.17% of the stock is owned by hedge funds and other institutional investors.

VLDR stock opened at $1.64 on Friday. Velodyne Lidar has a 12-month low of $1.42 and a 12-month high of $12.79. The firm has a market cap of $341.05 million, a price-to-earnings ratio of -1.44 and a beta of 1.02. The company’s fifty day simple moving average is $2.03 and its 200 day simple moving average is $3.54.

Velodyne Lidar Company Profile (Get Rating)

Velodyne Lidar, Inc provides real-time 3D vision for autonomous systems worldwide. It offers surround-view lidar for autonomous vehicles, drones, security, mobile robots, and mapping applications; and solid state lidar for advanced driver assistance systems and autonomous applications. The company also provides Vella Development Kit that provides access to lidar-based perception software paired with sensors; Intelligent Infrastructure Solution for monitoring traffic networks and public spaces to generate real-time data analytics and predictions for enhancing traffic and crowd flow efficiency; and Vella software solution, a data curation software platform.

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