iPic Entertainment (IPIC) Releases Quarterly Earnings Results, Misses Expectations By $0.25 EPS

iPic Entertainment (NASDAQ:IPIC) released its quarterly earnings data on Tuesday. The company reported ($1.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by ($0.25), Yahoo Finance reports. The firm had revenue of $31.74 million during the quarter, compared to analysts’ expectations of $33.38 million. iPic Entertainment updated its FY 2018 guidance to EPS and its Q4 2018 guidance to EPS.

Shares of NASDAQ IPIC traded down $0.95 during midday trading on Wednesday, hitting $5.26. 13,623 shares of the stock traded hands, compared to its average volume of 2,562. iPic Entertainment has a one year low of $5.40 and a one year high of $17.00.

IPIC has been the subject of several recent research reports. Zacks Investment Research downgraded iPic Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Barrington Research restated a “buy” rating and set a $9.00 price objective on shares of iPic Entertainment in a report on Tuesday, August 21st. Telsey Advisory Group downgraded iPic Entertainment from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $15.50 to $8.00 in a report on Wednesday. Finally, Roth Capital decreased their price objective on iPic Entertainment from $18.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday.

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About iPic Entertainment

iPic Entertainment Inc operates restaurants and theaters in the United States. The company operates casual restaurants, farm-to-glass full-service bars, and theater auditoriums with in-theater dining. It operates restaurants under the City Perch Kitchen + Bar, Tanzy, The Tuck Room, The Tuck Room Tavern, and iPic Express brands.

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