Brokerages expect that Lovesac Co (NASDAQ:LOVE) will post earnings of ($0.56) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Lovesac’s earnings, with estimates ranging from ($0.59) to ($0.53). The company is scheduled to announce its next quarterly earnings report on Tuesday, July 30th.
According to Zacks, analysts expect that Lovesac will report full year earnings of ($0.26) per share for the current financial year, with EPS estimates ranging from ($0.26) to ($0.25). For the next year, analysts anticipate that the business will post earnings of $0.24 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Lovesac.
Lovesac (NASDAQ:LOVE) last issued its earnings results on Tuesday, April 30th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $64.18 million during the quarter, compared to analysts’ expectations of $55.96 million. During the same quarter in the previous year, the business earned $0.31 EPS. Lovesac’s revenue for the quarter was up 64.4% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Lovesac during the 3rd quarter worth $4,128,000. Vanguard Group Inc. acquired a new position in Lovesac during the 3rd quarter worth $2,300,000. Vanguard Group Inc acquired a new position in Lovesac during the 3rd quarter worth $2,300,000. FNY Investment Advisers LLC boosted its position in Lovesac by 499.3% during the 4th quarter. FNY Investment Advisers LLC now owns 2,553 shares of the company’s stock worth $58,000 after acquiring an additional 2,127 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in Lovesac during the 4th quarter worth $195,000. 51.77% of the stock is currently owned by institutional investors.
Shares of LOVE opened at $36.25 on Tuesday. Lovesac has a 1-year low of $16.46 and a 1-year high of $46.79.
The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans.
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