Zacks: Brokerages Anticipate GoPro Inc (NASDAQ:GPRO) Will Post Earnings of $0.07 Per Share

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Brokerages expect that GoPro Inc (NASDAQ:GPRO) will announce earnings per share (EPS) of $0.07 for the current quarter, according to Zacks. Three analysts have made estimates for GoPro’s earnings, with estimates ranging from $0.04 to $0.11. GoPro reported earnings of ($0.04) per share in the same quarter last year, which indicates a positive year over year growth rate of 275%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that GoPro will report full year earnings of $0.39 per share for the current year, with EPS estimates ranging from $0.36 to $0.40. For the next fiscal year, analysts expect that the company will post earnings of $0.47 per share, with EPS estimates ranging from $0.42 to $0.54. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for GoPro.

GoPro (NASDAQ:GPRO) last posted its earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. GoPro had a negative return on equity of 2.69% and a negative net margin of 2.59%. The company had revenue of $292.43 million for the quarter, compared to the consensus estimate of $302.29 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis.

GPRO has been the topic of several research reports. Zacks Investment Research raised GoPro from a “hold” rating to a “strong-buy” rating and set a $8.50 target price on the stock in a research report on Thursday, May 16th. BidaskClub downgraded GoPro from a “sell” rating to a “strong sell” rating in a research report on Friday, July 19th. Wedbush decreased their target price on GoPro from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley set a $5.00 target price on GoPro and gave the company a “sell” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their target price on GoPro from $7.50 to $8.00 in a research report on Friday, May 10th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $7.29.

In related news, CEO Nicholas Woodman sold 700,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $5.48, for a total transaction of $3,836,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 2,804,189 shares of company stock worth $17,084,222 in the last three months. 22.34% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of GoPro by 6.9% during the 4th quarter. Bank of New York Mellon Corp now owns 443,666 shares of the company’s stock worth $1,882,000 after purchasing an additional 28,452 shares during the period. Northern Trust Corp grew its holdings in shares of GoPro by 1.5% during the 4th quarter. Northern Trust Corp now owns 1,420,543 shares of the company’s stock worth $6,024,000 after purchasing an additional 20,463 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of GoPro during the 4th quarter worth about $569,000. Metropolitan Life Insurance Co. NY grew its holdings in shares of GoPro by 368.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 37,351 shares of the company’s stock worth $158,000 after purchasing an additional 29,376 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of GoPro by 51.1% during the 4th quarter. Legal & General Group Plc now owns 57,959 shares of the company’s stock worth $246,000 after purchasing an additional 19,603 shares during the period. 45.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of GoPro stock traded up $0.06 on Wednesday, hitting $4.12. The stock had a trading volume of 5,014,800 shares, compared to its average volume of 4,164,386. GoPro has a twelve month low of $3.91 and a twelve month high of $7.64. The business’s 50 day moving average is $4.90 and its two-hundred day moving average is $5.88. The company has a quick ratio of 1.14, a current ratio of 1.63 and a debt-to-equity ratio of 1.06. The stock has a market cap of $650.39 million, a price-to-earnings ratio of -8.96, a price-to-earnings-growth ratio of 3.34 and a beta of 0.49.

GoPro Company Profile

GoPro, Inc develops and sells cameras, drones, and mountable and wearable accessories in the United States and internationally. The company offers HERO7, a cloud-connected line of camera; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.

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