Zacks: Analysts Expect Overstock.com, Inc. (NASDAQ:OSTK) Will Announce Quarterly Sales of $626.75 Million

Wall Street brokerages expect Overstock.com, Inc. (NASDAQ:OSTK – Get Rating) to report sales of $626.75 million for the current quarter, according to Zacks. Two analysts have made estimates for Overstock.com’s earnings. The highest sales estimate is $673.50 million and the lowest is $580.00 million. Overstock.com posted sales of $794.54 million during the same quarter last year, which would indicate a negative year over year growth rate of 21.1%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Overstock.com will report full-year sales of $2.39 billion for the current financial year, with estimates ranging from $2.22 billion to $2.56 billion. For the next financial year, analysts forecast that the company will report sales of $2.53 billion, with estimates ranging from $2.33 billion to $2.73 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Overstock.com.

Overstock.com (NASDAQ:OSTK – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). The business had revenue of $536.00 million for the quarter, compared to the consensus estimate of $573.26 million. Overstock.com had a return on equity of 18.83% and a net margin of 14.56%. The company’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same period last year, the firm earned $0.56 earnings per share.

A number of brokerages have issued reports on OSTK. DA Davidson decreased their target price on shares of Overstock.com from $161.00 to $152.00 in a research report on Thursday, April 21st. Bank of America lowered shares of Overstock.com from a “buy” rating to a “neutral” rating and cut their target price for the company from $85.00 to $38.00 in a research report on Monday, April 25th. Zacks Investment Research lowered shares of Overstock.com from a “hold” rating to a “strong sell” rating and set a $31.00 target price on the stock. in a research report on Wednesday, February 23rd. Piper Sandler cut their target price on shares of Overstock.com from $140.00 to $85.00 in a research report on Friday, February 18th. Finally, Wedbush dropped their target price on shares of Overstock.com from $95.00 to $66.00 in a report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Overstock.com has an average rating of “Hold” and an average target price of $87.25.

In other Overstock.com news, insider Eric Glen Nickle sold 1,000 shares of Overstock.com stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $40.03, for a total value of $40,030.00. Following the completion of the transaction, the insider now directly owns 12,979 shares of the company’s stock, valued at $519,549.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Krista Dalton sold 8,036 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $43.60, for a total transaction of $350,369.60. Following the sale, the insider now owns 7,292 shares of the company’s stock, valued at $317,931.20. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd increased its position in Overstock.com by 7,081.8% during the first quarter. Covestor Ltd now owns 790 shares of the company’s stock valued at $35,000 after acquiring an additional 779 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Overstock.com during the 3rd quarter worth about $38,000. Meeder Asset Management Inc. grew its holdings in Overstock.com by 272.5% during the 1st quarter. Meeder Asset Management Inc. now owns 950 shares of the company’s stock worth $42,000 after acquiring an additional 695 shares in the last quarter. Captrust Financial Advisors grew its holdings in Overstock.com by 308.3% during the 1st quarter. Captrust Financial Advisors now owns 1,037 shares of the company’s stock worth $46,000 after acquiring an additional 783 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Overstock.com during the 1st quarter worth about $70,000. 71.56% of the stock is currently owned by institutional investors.

Overstock.com stock opened at $32.01 on Thursday. The stock has a market cap of $1.37 billion, a P/E ratio of 4.01, a P/E/G ratio of 2.48 and a beta of 3.86. The company has a quick ratio of 1.89, a current ratio of 1.91 and a debt-to-equity ratio of 0.05. Overstock.com has a twelve month low of $24.82 and a twelve month high of $111.28. The company’s 50-day moving average price is $34.41 and its two-hundred day moving average price is $49.29.

About Overstock.com (Get Rating)

Overstock.com, Inc operates as an online retailer in the United States. The company offers furniture, décor, area rug, bedding and bath, home improvement, outdoor, and kitchen and dining items. It provides its products and services through its internet websites comprising overstock.com, o.co, overstock.ca, and overstockgovernment.com.

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