Brokerages Expect Purple Innovation Inc (NASDAQ:PRPL) Will Post Earnings of $0.11 Per Share
Wall Street analysts forecast that Purple Innovation Inc (NASDAQ:PRPL) will report earnings per share of $0.11 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Purple Innovation’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at ($0.01). Purple Innovation reported earnings per share of $0.18 in the same quarter last year, which would suggest a negative year-over-year growth rate of 38.9%. The business is scheduled to report its next earnings report on Tuesday, August 11th.
On average, analysts expect that Purple Innovation will report full-year earnings of $0.43 per share for the current fiscal year, with EPS estimates ranging from $0.27 to $0.51. For the next fiscal year, analysts expect that the company will report earnings of $0.50 per share, with EPS estimates ranging from $0.19 to $0.75. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Purple Innovation.
Purple Innovation (NASDAQ:PRPL) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.06. Purple Innovation had a negative net margin of 0.94% and a negative return on equity of 2,090.83%. The company had revenue of $122.38 million during the quarter, compared to the consensus estimate of $104.80 million.
Several equities research analysts recently issued reports on PRPL shares. ValuEngine upgraded shares of Purple Innovation from a “strong sell” rating to a “sell” rating in a research note on Friday, April 3rd. KeyCorp raised their price objective on shares of Purple Innovation from $12.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. BidaskClub upgraded shares of Purple Innovation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Oppenheimer restated a “buy” rating and set a $19.00 price objective (up from $15.00) on shares of Purple Innovation in a research report on Friday, February 14th. Finally, Wedbush raised their price objective on shares of Purple Innovation from $11.00 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $14.57.
Shares of NASDAQ:PRPL opened at $12.94 on Thursday. Purple Innovation has a 52-week low of $4.42 and a 52-week high of $16.50. The company has a market capitalization of $673.06 million, a P/E ratio of -41.74, a price-to-earnings-growth ratio of 3.88 and a beta of 1.66. The company has a 50-day simple moving average of $8.87 and a 200 day simple moving average of $9.68. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.77 and a current ratio of 1.31.
Several institutional investors and hedge funds have recently made changes to their positions in the company. American International Group Inc. increased its holdings in shares of Purple Innovation by 105.7% during the fourth quarter. American International Group Inc. now owns 4,856 shares of the company’s stock worth $42,000 after purchasing an additional 2,495 shares during the period. Morgan Stanley increased its holdings in shares of Purple Innovation by 24.5% during the first quarter. Morgan Stanley now owns 12,953 shares of the company’s stock worth $74,000 after purchasing an additional 2,545 shares during the period. State Street Corp increased its holdings in shares of Purple Innovation by 3.8% during the fourth quarter. State Street Corp now owns 76,637 shares of the company’s stock worth $668,000 after purchasing an additional 2,841 shares during the period. Cpwm LLC increased its stake in Purple Innovation by 7.0% in the first quarter. Cpwm LLC now owns 53,500 shares of the company’s stock valued at $304,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Purple Innovation by 114.1% in the fourth quarter. Bank of America Corp DE now owns 9,923 shares of the company’s stock valued at $86,000 after acquiring an additional 5,288 shares during the last quarter. 32.02% of the stock is currently owned by institutional investors.
Purple Innovation Company Profile
Purple Innovation, Inc designs and manufactures mattresses, pillows, and cushions. It also offers sheets, mattress protectors, platform bases, and foundations. The company markets and sells its products through direct-to-consumer online channels, traditional wholesale partners, and third-party online retailers.
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