-$0.20 Earnings Per Share Expected for The Lovesac Company (NASDAQ:LOVE) This Quarter

Equities research analysts predict that The Lovesac Company (NASDAQ:LOVE – Get Rating) will report ($0.20) earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Lovesac’s earnings. The highest EPS estimate is ($0.18) and the lowest is ($0.23). Lovesac posted earnings of $0.13 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 253.8%. The company is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Lovesac will report full-year earnings of $3.16 per share for the current year, with EPS estimates ranging from $2.81 to $3.44. For the next financial year, analysts forecast that the company will report earnings of $3.55 per share, with EPS estimates ranging from $3.00 to $4.28. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Lovesac.

Lovesac (NASDAQ:LOVE – Get Rating) last announced its quarterly earnings results on Tuesday, March 29th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.47. Lovesac had a net margin of 9.21% and a return on equity of 23.39%. The company had revenue of $196.20 million for the quarter, compared to analyst estimates of $174.34 million. During the same period in the previous year, the firm posted $1.37 EPS. The firm’s revenue was up 51.3% on a year-over-year basis.

A number of brokerages have recently issued reports on LOVE. DA Davidson boosted their price target on shares of Lovesac from $111.00 to $135.00 in a research report on Wednesday, March 30th. Zacks Investment Research upgraded shares of Lovesac from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a research report on Saturday, April 2nd. Finally, BTIG Research boosted their target price on shares of Lovesac from $113.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, March 30th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lovesac has a consensus rating of “Buy” and a consensus target price of $104.25.

In related news, CEO Shawn David Nelson sold 7,000 shares of the stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $49.43, for a total transaction of $346,010.00. Following the completion of the transaction, the chief executive officer now owns 151,623 shares in the company, valued at $7,494,724.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Shirley Romig sold 2,300 shares of the stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $49.38, for a total transaction of $113,574.00. Following the transaction, the director now owns 5,816 shares of the company’s stock, valued at approximately $287,194.08. The disclosure for this sale can be found here. Corporate insiders own 16.20% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Connors Investor Services Inc. boosted its position in Lovesac by 2.9% during the first quarter. Connors Investor Services Inc. now owns 82,455 shares of the company’s stock worth $4,458,000 after purchasing an additional 2,339 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Lovesac during the first quarter worth about $2,383,000. Ensign Peak Advisors Inc boosted its position in Lovesac by 20.8% during the first quarter. Ensign Peak Advisors Inc now owns 22,530 shares of the company’s stock worth $1,218,000 after purchasing an additional 3,885 shares during the period. Captrust Financial Advisors boosted its position in Lovesac by 110.6% during the first quarter. Captrust Financial Advisors now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 303 shares during the period. Finally, State Street Corp lifted its holdings in shares of Lovesac by 1.8% in the first quarter. State Street Corp now owns 251,872 shares of the company’s stock worth $13,616,000 after buying an additional 4,385 shares in the last quarter. Hedge funds and other institutional investors own 97.12% of the company’s stock.

Shares of NASDAQ LOVE traded down $1.40 during midday trading on Friday, reaching $30.21. The stock had a trading volume of 615,896 shares, compared to its average volume of 369,454. The firm has a market cap of $457.08 million, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.29 and a beta of 2.43. Lovesac has a twelve month low of $29.27 and a twelve month high of $95.51. The company’s 50 day moving average price is $45.23 and its 200 day moving average price is $54.06.

Lovesac Company Profile (Get Rating)

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 30, 2022, the company operated 146 showrooms.

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