Zacks: Brokerages Anticipate GoPro Inc (GPRO) to Announce -$0.07 Earnings Per Share

Brokerages forecast that GoPro Inc (NASDAQ:GPRO) will report earnings per share of ($0.07) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for GoPro’s earnings, with estimates ranging from ($0.09) to ($0.05). GoPro posted earnings of $0.15 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 146.7%. The business is scheduled to announce its next earnings results on Wednesday, November 7th.

On average, analysts expect that GoPro will report full year earnings of ($0.21) per share for the current fiscal year, with EPS estimates ranging from ($0.25) to ($0.17). For the next fiscal year, analysts forecast that the business will post earnings of $0.14 per share, with EPS estimates ranging from ($0.10) to $0.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover GoPro.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings data on Thursday, August 2nd. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. The business had revenue of $282.70 million during the quarter, compared to analysts’ expectations of $270.27 million. GoPro had a negative return on equity of 47.64% and a negative net margin of 13.47%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) EPS.

Several equities analysts have recently issued reports on the company. Wedbush reissued a “neutral” rating and issued a $6.00 price objective on shares of GoPro in a report on Friday, July 27th. BidaskClub raised GoPro from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 13th. ValuEngine cut GoPro from a “sell” rating to a “strong sell” rating in a report on Monday, July 30th. Longbow Research reissued a “hold” rating on shares of GoPro in a report on Friday, September 21st. Finally, Oppenheimer raised GoPro from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a report on Wednesday, September 26th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $7.05.

In related news, CFO Brian Mcgee sold 5,452 shares of GoPro stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $5.86, for a total value of $31,948.72. Following the completion of the transaction, the chief financial officer now owns 108,411 shares in the company, valued at approximately $635,288.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 26.61% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in GPRO. Indaba Capital Management L.P. purchased a new position in shares of GoPro in the 1st quarter valued at about $10,551,000. Renaissance Technologies LLC increased its stake in GoPro by 478.8% during the 2nd quarter. Renaissance Technologies LLC now owns 4,496,600 shares of the company’s stock worth $28,958,000 after buying an additional 3,719,700 shares in the last quarter. BlackRock Inc. increased its stake in GoPro by 10.5% during the 2nd quarter. BlackRock Inc. now owns 8,302,325 shares of the company’s stock worth $53,468,000 after buying an additional 785,861 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in GoPro by 172.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 406,652 shares of the company’s stock worth $1,948,000 after buying an additional 257,389 shares in the last quarter. Finally, CIBC World Markets Inc. increased its stake in GoPro by 477.9% during the 1st quarter. CIBC World Markets Inc. now owns 225,392 shares of the company’s stock worth $1,080,000 after buying an additional 186,392 shares in the last quarter. Hedge funds and other institutional investors own 30.88% of the company’s stock.

Shares of GPRO stock traded up $0.10 on Monday, hitting $6.36. The company had a trading volume of 4,398,900 shares, compared to its average volume of 4,204,676. The stock has a market cap of $1.07 billion, a PE ratio of -5.81 and a beta of 0.21. The company has a quick ratio of 1.15, a current ratio of 1.49 and a debt-to-equity ratio of 0.72. GoPro has a twelve month low of $4.42 and a twelve month high of $10.70.

GoPro Company Profile

GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; 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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