Wall Street brokerages expect that Inventure Foods Inc (NASDAQ:SNAK) will post earnings per share (EPS) of ($0.08) for the current quarter, according to Zacks. Two analysts have provided estimates for Inventure Foods’ earnings. The lowest EPS estimate is ($0.12) and the highest is ($0.04). Inventure Foods posted earnings of ($0.05) per share in the same quarter last year, which would suggest a negative year over year growth rate of 60%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, April 27th.
Zacks’ earnings per share averages are an average based on a survey of research firms that follow Inventure Foods.
Inventure Foods (NASDAQ:SNAK) last issued its earnings results on Thursday, March 30th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.14. Inventure Foods had a negative return on equity of 10.60% and a negative net margin of 2.30%. The firm earned $63.40 million during the quarter, compared to analysts’ expectations of $64.63 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Inventure Foods’s quarterly revenue was down 7.7% compared to the same quarter last year.
A number of equities analysts have commented on SNAK shares. Zacks Investment Research cut Inventure Foods from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 21st. DA Davidson cut Inventure Foods from a “buy” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $8.00 in a report on Friday, January 13th.
Shares of Inventure Foods (NASDAQ:SNAK) traded down 1.07% during midday trading on Tuesday, hitting $3.70. The company’s stock had a trading volume of 121,688 shares. Inventure Foods has a 12-month low of $3.54 and a 12-month high of $10.15. The firm has a 50-day moving average of $4.19 and a 200 day moving average of $6.98. The firm’s market cap is $72.84 million.
Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in Inventure Foods during the fourth quarter valued at approximately $7,870,000. State of New Jersey Common Pension Fund D boosted its stake in Inventure Foods by 29.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,600,000 shares of the company’s stock valued at $7,072,000 after buying an additional 360,000 shares in the last quarter. Gabelli Funds LLC boosted its stake in Inventure Foods by 27.3% in the fourth quarter. Gabelli Funds LLC now owns 972,079 shares of the company’s stock valued at $9,575,000 after buying an additional 208,732 shares in the last quarter. Emerald Acquisition Ltd. boosted its stake in Inventure Foods by 31.1% in the third quarter. Emerald Acquisition Ltd. now owns 721,844 shares of the company’s stock valued at $6,785,000 after buying an additional 171,298 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in Inventure Foods by 9.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,066,513 shares of the company’s stock valued at $10,505,000 after buying an additional 93,279 shares in the last quarter. 95.62% of the stock is owned by hedge funds and other institutional investors.
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About Inventure Foods
Inventure Foods, Inc is a marketer and manufacturer of healthy/natural and indulgent specialty snack food brands. The Company operates in two segments: frozen products and snack products. The frozen products segment produces frozen fruits, vegetables, beverages and frozen desserts for sale primarily to groceries, club stores and mass merchandisers.
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