Analysts Anticipate Lovesac Co (LOVE) Will Post Earnings of -$0.56 Per Share

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.

Several research firms recently commented on LOVE. Zacks Investment Research lowered shares of Lovesac from a “buy” rating to a “sell” rating in a research note on Saturday, May 18th. Craig Hallum reiterated a “buy” rating and issued a $45.00 target price (up previously from $33.00) on shares of Lovesac in a research note on Wednesday, May 1st. Roth Capital boosted their price objective on shares of Lovesac from $28.00 to $33.00 in a report on Wednesday, April 24th. DA Davidson began coverage on shares of Lovesac in a report on Monday, April 1st. They set a “buy” rating and a $38.00 price objective for the company. Finally, Canaccord Genuity upped their target price on shares of Lovesac from $30.00 to $36.00 and gave the company a “buy” rating in a report on Monday, February 11th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Lovesac currently has an average rating of “Buy” and an average target price of $40.00.

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.

About Lovesac

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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Earnings History and Estimates for Lovesac (NASDAQ:LOVE)

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