Zacks: Brokerages Anticipate Loop Industries Inc (NASDAQ:LOOP) Will Announce Earnings of -$0.10 Per Share

Analysts predict that Loop Industries Inc (NASDAQ:LOOP) will report earnings of ($0.10) per share for the current quarter, according to Zacks. Zero analysts have made estimates for Loop Industries’ earnings. Loop Industries also reported earnings per share of ($0.10) in the same quarter last year. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Loop Industries will report full year earnings of ($0.40) per share for the current year. For the next fiscal year, analysts expect that the business will report earnings of ($0.40) per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Loop Industries.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings results on Tuesday, May 7th. The financial services provider reported ($0.09) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09).

Several research firms have recently commented on LOOP. ValuEngine raised shares of Loop Industries from a “hold” rating to a “buy” rating in a research report on Saturday, June 22nd. Zacks Investment Research raised shares of Loop Industries from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Loop Industries in a research report on Friday, July 12th.

In other news, Director Sidney Mortimer Horn sold 5,000 shares of Loop Industries stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 55.14% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in LOOP. Creative Planning raised its holdings in shares of Loop Industries by 0.3% in the second quarter. Creative Planning now owns 870,570 shares of the financial services provider’s stock worth $8,610,000 after buying an additional 3,000 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Loop Industries by 633.1% in the second quarter. Handelsbanken Fonder AB now owns 146,625 shares of the financial services provider’s stock worth $1,450,000 after buying an additional 126,625 shares during the period. Bank of Montreal Can raised its holdings in shares of Loop Industries by 13.8% in the first quarter. Bank of Montreal Can now owns 28,785 shares of the financial services provider’s stock worth $228,000 after buying an additional 3,500 shares during the period. Handelsinvest Investeringsforvaltning purchased a new stake in shares of Loop Industries in the first quarter worth approximately $79,000. Finally, Geode Capital Management LLC bought a new position in Loop Industries in the fourth quarter worth approximately $346,000. 5.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LOOP stock traded up $0.88 during trading on Friday, hitting $13.74. 103,000 shares of the stock traded hands, compared to its average volume of 119,643. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.16. The firm’s fifty day moving average price is $11.17. Loop Industries has a 52-week low of $5.69 and a 52-week high of $14.45.

Loop Industries Company Profile

Loop Industries, Inc focuses on depolymerizing waste polyethylene terephthalate (PET) plastics and polyester fibers into base building blocks. It re-polymerized monomers into virgin-quality PET plastic for use in food-grade plastic packaging, such as water and soda bottles, as well as polyester fibers for textile applications.

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