Zacks: Brokerages Anticipate Eargo, Inc. (NASDAQ:EAR) Will Announce Earnings of -$0.25 Per Share

Analysts predict that Eargo, Inc. (NASDAQ:EAR) will report earnings of ($0.25) per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Eargo’s earnings, with estimates ranging from ($0.29) to ($0.23). The company is expected to issue its next quarterly earnings report on Wednesday, August 11th.

According to Zacks, analysts expect that Eargo will report full year earnings of ($0.95) per share for the current year, with EPS estimates ranging from ($1.02) to ($0.86). For the next financial year, analysts forecast that the firm will post earnings of ($0.64) per share, with EPS estimates ranging from ($0.85) to ($0.51). Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Eargo.

Eargo (NASDAQ:EAR) last issued its quarterly earnings results on Wednesday, May 12th. The company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.05. The firm had revenue of $22.05 million for the quarter, compared to the consensus estimate of $19.71 million.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Eargo from a “buy” rating to a “hold” rating in a research report on Wednesday, July 14th. Wells Fargo & Company lowered their price objective on shares of Eargo from $68.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, May 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $43.50.

In other Eargo news, major shareholder Healthcare Holding B.V. Gilde sold 151,126 shares of the company’s stock in a transaction that occurred on Friday, April 23rd. The shares were sold at an average price of $49.85, for a total value of $7,533,631.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Geoff Pardo sold 133,626 shares of the company’s stock in a transaction that occurred on Tuesday, April 27th. The shares were sold at an average price of $54.69, for a total transaction of $7,308,005.94. Following the completion of the transaction, the director now owns 10,386 shares of the company’s stock, valued at $568,010.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 706,878 shares of company stock valued at $37,609,518.

Institutional investors and hedge funds have recently bought and sold shares of the company. RMR Wealth Builders acquired a new stake in shares of Eargo during the fourth quarter worth $45,000. Lazard Asset Management LLC acquired a new stake in shares of Eargo during the fourth quarter worth $45,000. Quantbot Technologies LP acquired a new stake in shares of Eargo during the first quarter worth $59,000. Citigroup Inc. acquired a new stake in shares of Eargo during the fourth quarter worth $67,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Eargo during the fourth quarter worth $202,000. Institutional investors own 47.55% of the company’s stock.

EAR stock traded down $0.49 during trading on Thursday, reaching $34.67. 9,020 shares of the company were exchanged, compared to its average volume of 408,549. The business’s 50-day moving average is $35.80. Eargo has a twelve month low of $30.71 and a twelve month high of $76.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 9.34 and a quick ratio of 9.23.

About Eargo

Eargo, Inc, a medical device company, develops and sells hearing aids to assist people with hearing loss in the United States. It sells its products through online stores. The company was formerly known as Aria Innovations, Inc and changed its name to Eargo, Inc in November 2014. Eargo, Inc was founded in 2010 and is headquartered in San Jose, California.

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Earnings History and Estimates for Eargo (NASDAQ:EAR)

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