Analysts Predict Canoo Inc. (NYSE: GOEV) to Report Earnings of $ -0.44 per Share
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 âholdâ rating to a âsellâ 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 âbuyâ 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.
Aware of the rise in gold? This promise from this miner will amaze you.
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.
Featured Article: How Short Selling Works
Get a Free Copy of Zacks’ Canoo Research Report (GOEV)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in Canoo now?
Before you consider Canoo, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the top five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and Canoo was not on the list.
Although Canoo currently has a âHoldâ rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here