Tupperware Brands Co. to Post Q1 2023 Earnings of $0.02 Per Share, DA Davidson Forecasts (NYSE:TUP)

Tupperware Brands Co. (NYSE:TUP – Get Rating) – Investment analysts at DA Davidson reduced their Q1 2023 earnings per share estimates for Tupperware Brands in a report released on Monday, March 13th. DA Davidson analyst L. Weiser now anticipates that the company will earn $0.02 per share for the quarter, down from their prior estimate of $0.25. DA Davidson has a “Neutral” rating and a $3.00 price target on the stock. The consensus estimate for Tupperware Brands’ current full-year earnings is $0.70 per share. DA Davidson also issued estimates for Tupperware Brands’ FY2023 earnings at $0.38 EPS and FY2024 earnings at $0.47 EPS.

Tupperware Brands (NYSE:TUP – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.53). The business had revenue of $313.70 million during the quarter, compared to analysts’ expectations of $294.30 million. Tupperware Brands had a negative net margin of 1.36% and a negative return on equity of 11.11%. The company’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS.

Separately, StockNews.com cut Tupperware Brands from a “buy” rating to a “hold” rating in a research note on Thursday, November 24th.

Tupperware Brands Stock Up 0.4 %

Shares of NYSE TUP opened at $2.49 on Wednesday. The stock’s 50 day moving average price is $4.02 and its two-hundred day moving average price is $5.48. Tupperware Brands has a 52-week low of $2.24 and a 52-week high of $21.10. The stock has a market capitalization of $110.76 million, a P/E ratio of -6.22, a PEG ratio of 0.35 and a beta of 2.24.

Institutional Trading of Tupperware Brands

Several institutional investors and hedge funds have recently bought and sold shares of TUP. Millennium Management LLC raised its position in shares of Tupperware Brands by 284.2% during the 4th quarter. Millennium Management LLC now owns 2,111,654 shares of the company’s stock worth $8,742,000 after purchasing an additional 1,562,006 shares during the period. Renaissance Technologies LLC raised its position in shares of Tupperware Brands by 747.0% during the 4th quarter. Renaissance Technologies LLC now owns 814,796 shares of the company’s stock worth $3,373,000 after purchasing an additional 718,596 shares during the period. Federated Hermes Inc. raised its position in shares of Tupperware Brands by 6,922,566.7% during the 2nd quarter. Federated Hermes Inc. now owns 623,040 shares of the company’s stock worth $3,950,000 after purchasing an additional 623,031 shares during the period. AQR Capital Management LLC raised its position in shares of Tupperware Brands by 214.9% during the 4th quarter. AQR Capital Management LLC now owns 693,405 shares of the company’s stock worth $2,871,000 after purchasing an additional 473,238 shares during the period. Finally, HRT Financial LP raised its position in shares of Tupperware Brands by 717.6% during the 4th quarter. HRT Financial LP now owns 446,365 shares of the company’s stock worth $1,847,000 after purchasing an additional 391,769 shares during the period. Institutional investors and hedge funds own 71.39% of the company’s stock.

About Tupperware Brands

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Tupperware Brands Corp. operates as a direct-to-consumer marketer of products across multiple brands and categories. It operates through the following geographical segments: Europe, Asia Pacific, North America and South America. product brands and categories include design-centric preparation, storage and serving solutions for the kitchen and home through the Tupperware brand, and beauty and personal care products through the Avroy Shlain, BeautiControl, Fuller, NaturCare, Nutrimetics and Nuvo brands.