Latham Group (SWIM) Scheduled to Post Quarterly Earnings on Tuesday

Latham Group (NASDAQ:SWIM) is set to announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.15) per share for the quarter. Latham Group has set its FY 2024 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

Latham Group (NASDAQ:SWIM) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $90.90 million for the quarter, compared to analyst estimates of $86.95 million. Latham Group had a negative net margin of 0.42% and a negative return on equity of 0.62%. Latham Group’s quarterly revenue was down 15.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) earnings per share. On average, analysts expect Latham Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Latham Group Trading Up 8.1 %

Shares of Latham Group stock opened at $2.81 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.77 and a quick ratio of 1.64. The stock’s 50 day simple moving average is $3.28 and its 200-day simple moving average is $2.78. The stock has a market cap of $324.25 million, a P/E ratio of -93.67 and a beta of 1.67. Latham Group has a 1-year low of $2.04 and a 1-year high of $4.77.

Analyst Ratings Changes

A number of brokerages have issued reports on SWIM. Stifel Nicolaus raised Latham Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $3.00 to $4.00 in a research note on Monday, March 18th. Bank of America downgraded shares of Latham Group from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $4.50 to $2.60 in a research note on Wednesday, March 13th.

Insiders Place Their Bets

In related news, CFO Oliver C. Gloe bought 27,500 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were bought at an average price of $2.92 per share, with a total value of $80,300.00. Following the completion of the transaction, the chief financial officer now directly owns 292,922 shares of the company’s stock, valued at approximately $855,332.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Latham Group news, COO Sanjeev Bahl sold 10,342 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $3.05, for a total transaction of $31,543.10. Following the sale, the chief operating officer now directly owns 126,713 shares in the company, valued at $386,474.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Oliver C. Gloe purchased 27,500 shares of Latham Group stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $2.92 per share, for a total transaction of $80,300.00. Following the transaction, the chief financial officer now directly owns 292,922 shares of the company’s stock, valued at approximately $855,332.24. The disclosure for this purchase can be found here. Insiders sold a total of 54,383 shares of company stock valued at $165,868 over the last quarter. 8.60% of the stock is owned by insiders.

About Latham Group

Latham Group, Inc designs, manufactures, and markets in-ground residential swimming pools in North America, Australia, and New Zealand. It offers a portfolio of pools and related products, including in-ground swimming pools that include fiber glass and packaged pools; and pool covers and liners under the Latham, Narellan, CoverStar, Radiant, and GLI brand names.