Analysts Anticipate Enthusiast Gaming Holdings Inc. (NASDAQ:EGLX) to Post -$0.08 Earnings Per Share

Equities research analysts expect that Enthusiast Gaming Holdings Inc. (NASDAQ:EGLXGet Rating) will report earnings of ($0.08) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Enthusiast Gaming’s earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at ($0.07). Enthusiast Gaming reported earnings of ($0.09) per share during the same quarter last year, which would indicate a positive year over year growth rate of 11.1%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Enthusiast Gaming will report full year earnings of ($0.27) per share for the current fiscal year, with EPS estimates ranging from ($0.28) to ($0.26). For the next year, analysts anticipate that the business will report earnings of ($0.18) per share, with EPS estimates ranging from ($0.18) to ($0.17). Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Enthusiast Gaming.

Enthusiast Gaming (NASDAQ:EGLXGet Rating) last released its quarterly earnings data on Monday, March 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $45.18 million during the quarter, compared to the consensus estimate of $45.03 million. Enthusiast Gaming had a negative net margin of 26.65% and a negative return on equity of 19.98%.

Several analysts recently issued reports on EGLX shares. Zacks Investment Research raised shares of Enthusiast Gaming from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Royal Bank of Canada lifted their price target on shares of Enthusiast Gaming from C$7.00 to C$8.00 in a research report on Tuesday, May 17th. Scotiabank cut their price objective on shares of Enthusiast Gaming from C$8.25 to C$8.00 in a report on Tuesday, March 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Enthusiast Gaming in a report on Tuesday, May 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Enthusiast Gaming currently has a consensus rating of “Buy” and an average price target of $8.25.

NASDAQ EGLX traded up $0.15 during mid-day trading on Thursday, hitting $2.44. The company’s stock had a trading volume of 229,627 shares, compared to its average volume of 545,884. The company’s 50 day simple moving average is $2.21 and its 200 day simple moving average is $2.70. Enthusiast Gaming has a twelve month low of $1.56 and a twelve month high of $7.37. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $326.40 million, a price-to-earnings ratio of -7.87 and a beta of -0.48.

A number of institutional investors have recently made changes to their positions in EGLX. Goldman Sachs Group Inc. raised its stake in Enthusiast Gaming by 509.9% in the 3rd quarter. Goldman Sachs Group Inc. now owns 702,021 shares of the company’s stock valued at $2,548,000 after acquiring an additional 586,908 shares during the period. Marshall Wace LLP increased its position in shares of Enthusiast Gaming by 629.2% during the third quarter. Marshall Wace LLP now owns 568,366 shares of the company’s stock valued at $2,055,000 after buying an additional 490,426 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Enthusiast Gaming by 172.4% in the third quarter. Two Sigma Investments LP now owns 644,420 shares of the company’s stock worth $2,339,000 after buying an additional 407,806 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Enthusiast Gaming by 98.2% in the third quarter. Renaissance Technologies LLC now owns 547,300 shares of the company’s stock valued at $1,976,000 after acquiring an additional 271,200 shares during the period. Finally, Jane Street Group LLC grew its stake in Enthusiast Gaming by 659.2% during the third quarter. Jane Street Group LLC now owns 245,203 shares of the company’s stock valued at $884,000 after acquiring an additional 212,905 shares in the last quarter. Institutional investors and hedge funds own 19.05% of the company’s stock.

About Enthusiast Gaming (Get Rating)

Enthusiast Gaming Holdings Inc engages in the media, content, entertainment, and esports businesses the United States, Canada, and internationally. The company operates an online network of approximately 100 gaming related websites; owns and operates Enthusiast Gaming Live Expo, a video-gaming expo; provides management and support services to players involved in professional gaming; owns and manages esports teams, which cover games comprising Call of Duty, Madden NFL, Fortnite, Overwatch, Super Smash Bros., Rocket League, and Valorant; and produces and programs approximately 30 weekly shows across AVOD and OTT channels, and represents approximately 500 gaming influencers in YouTube and Twitch.

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Earnings History and Estimates for Enthusiast Gaming (NASDAQ:EGLX)

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