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Wall Street analysts predict that Canoo Inc. (NYSE: GOEV) will post earnings per share of ($ 0.44) for the current quarter, Zack reports. Zero analysts made estimates for Canoo’s earnings. The highest EPS estimate is ($ 0.39) and the lowest ($ 0.48). The company is expected to release its next earnings report on Monday, November 15.
According to Zacks, analysts expect Canoo to report annual earnings of ($ 1.49) per share for the current fiscal year, with EPS estimates ranging from $ 1.58 to $ 1.40. For the next fiscal year, analysts expect the company to post earnings of ($ 1.81) per share, with EPS estimates ranging from ($ 2.34) to ($ 1.10). Zacks Investment Research’s earnings per share calculations are an average based on a survey of seller-side research companies that cover Canoo.
Canoo (NYSE: GOEV) last reported its quarterly results on Sunday, August 15. The company reported ($ 0.50) earnings per share for the quarter, missing analyst consensus estimates of ($ 0.36) by ($ 0.14).
A number of research companies have published reports on GOEV. Zacks investment research downgraded Canoo’s shares from a “hold†rating to a “sell†rating in a research note on Thursday, August 19. HC Wainwright began covering Canoo shares in a research note on Tuesday, September 7. They set a “buy” rating and a target price of $ 15.00 for the company. Roth Capital reduced its target price on Canoo shares from $ 10.00 to $ 7.00 and set a “neutral” rating for the company in a research note on Tuesday, August 17. Finally, RF Lafferty raised its target price on Canoo shares from $ 18.00 to $ 19.00 and gave the company a “buy†rating in a research note on Monday, July 26. Two research analysts rated the stock with a sell rating, one assigned a conservation rating, and two assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $ 11.25.
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Hedge funds and other institutional investors have recently increased or reduced their holdings in the stock. Ameritas Investment Partners Inc. purchased a new stake in Canoo shares in the second quarter valued at approximately $ 62,000. Commonwealth Equity Services LLC purchased a new stake in Canoo shares in the 1st quarter valued at approximately $ 90,000. Enlightenment Research LLC purchased a new stake in Canoo shares in the 1st quarter valued at approximately $ 98,000. Royal Bank of Canada increased its holdings of Canoo shares by 504.3% in the 1st quarter. Royal Bank of Canada now owns 11,270 shares of the company valued at $ 102,000 after purchasing an additional 9,405 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Canoo shares in the second quarter valued at approximately $ 108,000. Institutional investors and hedge funds hold 15.74% of the company’s shares.
NYSE: GOEV shares traded down $ 0.17 in Friday’s session, reaching $ 6.47. 1,905,374 shares of the company were traded, compared to its average volume of 4,767,275. Canoo has a 12-month low of $ 5.75 and a 12-month high of $ 24.90. The company has a 50-day moving average of $ 7.29 and a 200-day moving average of $ 8.45. The stock has a market cap of $ 1.54 billion, a P / E ratio of -4.65 and a beta of 0.16.
Canoo Company Profile
Canoo Inc, a mobility technology company, designs, designs, develops and manufactures electric vehicles for the commercial and consumer markets in the United States. The company offers B2B delivery vehicles, multi-purpose delivery vehicles and lifestyle vehicles using skateboard architecture technology.
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