-$0.20 EPS expected for Loop Industries, Inc. (NASDAQ:LOOP) this quarter
Stock analysts predict that Loop Industries, Inc. (NASDAQ:LOOP – Get Rating) will report earnings of ($0.20) per share for the current quarter, according to Zacks. Analysts at Zero released earnings estimates for Loop Industries, with the highest EPS estimate at $0.20 and the lowest estimate at $0.21. Loop Industries reported earnings per share of ($0.32) in the same quarter last year, suggesting a positive year-over-year growth rate of 37.5%. The company is due to release its next results on Monday, January 1.
According to Zacks, analysts expect Loop Industries to report full year earnings of ($0.88) per share for the current fiscal year, with EPS estimates ranging from ($0.90) to ($0.00). $.86). For next year, analysts expect the company to post earnings of ($0.76) per share, with EPS estimates ranging from ($1.11) to ($0.44). Zacks earnings per share averages are an average average based on a survey of sell-side analysts who provide coverage for Loop Industries.
A number of equity analysts have weighed in on LOOP shares. Raymond James set a price target of $19.50 on Loop Industries stock and gave the stock an “outperform” rating in a Friday, March 11 research report. Zacks Investment Research upgraded Loop Industries shares from a “sell” rating to a “hold” rating in a Friday, Feb. 18 report.
Several hedge funds and other institutional investors have recently bought and sold shares of LOOP. Millennium Management LLC increased its holdings of Loop Industries stock by 999.9% in the third quarter. Millennium Management LLC now owns 177,040 shares of the financial services provider worth $2,024,000 after purchasing an additional 160,944 shares in the last quarter. Handelsbanken Fonder AB increased its equity stake in Loop Industries by 2.8% in the third quarter. Handelsbanken Fonder AB now owns 2,503,462 shares of the financial services provider worth $28,615,000 after buying an additional 68,976 shares in the last quarter. Van ECK Associates Corp increased its holdings in Loop Industries by 24.1% during the third quarter. Van ECK Associates Corp now owns 128,311 shares of the financial services provider worth $1,467,000 after acquiring an additional 24,917 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in Loop Industries by 6,058.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 22,293 shares of the financial services provider worth $273,000 after acquiring 21,931 additional shares last quarter. Finally, Senvest Management LLC bought a new position in Loop Industries during Q3 worth approximately $215,000. Hedge funds and other institutional investors hold 10.87% of the company’s shares.
Shares of LOOP traded up $0.15 during midday trading on Tuesday, hitting $7.67. The stock had a trading volume of 15 shares, compared to an average volume of 128,584 shares. The company has a market capitalization of $363.47 million, a price-earnings ratio of -7.59 and a beta of 1.27. Loop Industries has a 12-month low of $5.90 and a 12-month high of $18.20. The company has a fifty-day moving average of $7.93 and a 200-day moving average of $10.70. The company has a debt ratio of 0.06, a quick ratio of 9.67 and a current ratio of 9.67.
About Loop Industries (Get a rating)
Loop Industries, Inc, a technology company, focuses on the depolymerization of polyethylene terephthalate (PET) plastics and polyester fibers into basic building blocks. It has polymerized virgin-grade PET plastic monomers for use in food-grade plastic packaging, such as plastic bottles for water and soft drinks, and containers for food and other consumer products; and polyester fibers, including carpets, garments and other polyester textiles.
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