-$0.10 EPS Expected for Loop Industries Inc (NASDAQ:LOOP) This Quarter

Wall Street brokerages predict that Loop Industries Inc (NASDAQ:LOOP) will report earnings per share (EPS) of ($0.10) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Loop Industries’ earnings. Loop Industries also posted earnings of ($0.10) per share during the same quarter last year. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Loop Industries will report full year earnings of ($0.40) per share for the current fiscal year. For the next financial year, analysts anticipate that the business will post earnings of ($0.40) per share. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Loop Industries.

Loop Industries (NASDAQ:LOOP) last posted its quarterly earnings results on Monday, July 8th. The financial services provider reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02).

Several equities research analysts have issued reports on LOOP shares. ValuEngine raised Loop Industries from a “hold” rating to a “buy” rating in a research note on Saturday, June 22nd. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Loop Industries in a report on Friday, July 12th. Finally, Zacks Investment Research upgraded Loop Industries from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Wednesday, July 17th.

In other news, Director Sidney Mortimer Horn sold 5,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 55.14% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB increased its position in shares of Loop Industries by 633.1% during the second quarter. Handelsbanken Fonder AB now owns 146,625 shares of the financial services provider’s stock valued at $1,450,000 after buying an additional 126,625 shares during the period. Scotia Capital Inc. lifted its holdings in Loop Industries by 39.8% in the second quarter. Scotia Capital Inc. now owns 164,299 shares of the financial services provider’s stock worth $1,625,000 after buying an additional 46,784 shares during the period. Geode Capital Management LLC bought a new stake in Loop Industries during the 4th quarter valued at approximately $346,000. Handelsinvest Investeringsforvaltning boosted its position in Loop Industries by 200.0% during the 2nd quarter. Handelsinvest Investeringsforvaltning now owns 30,000 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 20,000 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Loop Industries by 6.3% during the 2nd quarter. BlackRock Inc. now owns 66,720 shares of the financial services provider’s stock worth $660,000 after acquiring an additional 3,941 shares during the period. 4.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LOOP stock traded down $0.17 on Wednesday, reaching $15.01. The company’s stock had a trading volume of 1,018 shares, compared to its average volume of 76,262. The company has a market capitalization of $568.41 million, a P/E ratio of -37.95 and a beta of 0.58. Loop Industries has a 12-month low of $5.69 and a 12-month high of $15.71. The stock’s 50 day simple moving average is $13.47 and its 200-day simple moving average is $9.97. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Loop Industries Company Profile

Loop Industries, Inc focuses on depolymerizing waste polyethylene terephthalate (PET) plastics and polyester fibers into base building blocks. It re-polymerized monomers into virgin-quality PET plastic for use in food-grade plastic packaging, such as water and soda bottles, as well as polyester fibers for textile applications.

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