Overstock.com (NASDAQ:OSTK) Issues Earnings Results, Beats Expectations By $0.96 EPS

Overstock.com (NASDAQ:OSTK) announced its quarterly earnings data on Thursday. The company reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.96, MarketWatch Earnings reports. The firm had revenue of $783.00 million during the quarter, compared to the consensus estimate of $680.20 million. Overstock.com had a negative net margin of 2.05% and a negative return on equity of 22.36%. The firm’s revenue was up 109.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.69) earnings per share.

Shares of OSTK stock traded down $0.60 during midday trading on Friday, reaching $75.59. 7,376,568 shares of the company traded hands, compared to its average volume of 5,621,433. The firm’s 50 day simple moving average is $38.43 and its two-hundred day simple moving average is $17.22. Overstock.com has a 1-year low of $2.53 and a 1-year high of $79.42. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.92 and a quick ratio of 0.90. The firm has a market cap of $3.05 billion, a PE ratio of -64.06 and a beta of 3.79.

In other news, insider Meghan Tuohig sold 1,500 shares of Overstock.com stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $50.00, for a total transaction of $75,000.00. Following the completion of the sale, the insider now directly owns 10,235 shares in the company, valued at approximately $511,750. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Jacob Shapiro purchased 3,000 shares of Overstock.com stock in a transaction dated Monday, May 4th. The shares were bought at an average price of $13.00 per share, with a total value of $39,000.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $39,000. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 7,469 shares of company stock valued at $458,575. Insiders own 1.30% of the company’s stock.

OSTK has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Overstock.com from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 25th. ValuEngine downgraded shares of Overstock.com from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Finally, DA Davidson raised their price objective on shares of Overstock.com from $66.00 to $103.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $51.67.

Overstock.com Company Profile

Overstock.com, Inc operates as an online retailer in the United States and internationally. It operates through Retail and tZERO segments. The company offers furniture; and home d├ęcor, including rugs, bedding and bath, home improvement, kitchen items, and other related products. It also operates Worldstock Fair Trade, a store that provides handcrafted products; Pet Adoptions, a free service and portal to display pets available for adoption; and Overstock Hotels, a portal that enables customers to search and book properties within its Website.

Further Reading: How is the discount rate different from the Federal Funds rate?

Earnings History for Overstock.com (NASDAQ:OSTK)

Receive News & Ratings for Overstock.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Overstock.com and related companies with MarketBeat.com's FREE daily email newsletter.