Solo Brands (DTC) Set to Announce Quarterly Earnings on Thursday

Solo Brands (NYSE:DTC) is scheduled to issue its quarterly earnings data before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of $0.01 per share for the quarter. Solo Brands has set its FY 2024 guidance at EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Solo Brands (NYSE:DTC) last released its earnings results on Thursday, March 14th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Solo Brands had a positive return on equity of 7.33% and a negative net margin of 22.50%. The business had revenue of $165.32 million during the quarter, compared to the consensus estimate of $166.15 million. On average, analysts expect Solo Brands to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Solo Brands Trading Up 1.6 %

Shares of Solo Brands stock opened at $1.95 on Wednesday. The stock’s 50-day simple moving average is $2.11 and its 200 day simple moving average is $3.45. Solo Brands has a 52-week low of $1.74 and a 52-week high of $7.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.95 and a current ratio of 2.21. The stock has a market capitalization of $177.80 million, a P/E ratio of -1.01, a P/E/G ratio of 0.69 and a beta of 2.59.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. B. Riley reissued a “neutral” rating and issued a $2.20 price target (down from $4.00) on shares of Solo Brands in a report on Friday, March 15th. JPMorgan Chase & Co. cut shares of Solo Brands from an “overweight” rating to an “underweight” rating in a report on Friday, February 2nd. Piper Sandler reiterated a “neutral” rating and set a $3.00 target price (down previously from $4.00) on shares of Solo Brands in a report on Friday, March 15th. Jefferies Financial Group decreased their price target on shares of Solo Brands from $4.00 to $3.05 and set a “hold” rating for the company in a research note on Friday, March 15th. Finally, Citigroup dropped their target price on Solo Brands from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.54.

Insider Transactions at Solo Brands

In related news, CEO Christopher T. Metz bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $2.27 per share, for a total transaction of $227,000.00. Following the completion of the acquisition, the chief executive officer now owns 100,000 shares of the company’s stock, valued at approximately $227,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.34% of the company’s stock.

About Solo Brands

Solo Brands, Inc operates a direct-to-consumer platform that offers outdoor and lifestyle branded products in the United States. The company provides camp stoves under the Solo Stove Lite brand name; fire pits under the Solo Stove brand name; kayaks under the Oru brand name; paddle boards under the ISLE brand name; and storage solutions for fire pits, firewood, and other accessories.