GoPro (GPRO) Expected to Announce Earnings of -$0.40 Per Share

Brokerages expect GoPro (NASDAQ:GPRO) to announce ($0.40) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for GoPro’s earnings, with estimates ranging from ($0.51) to ($0.24). GoPro reported earnings of ($0.44) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The business is expected to report its next earnings report after the market closes on Thursday, April 26th.

According to Zacks, analysts expect that GoPro will report full-year earnings of ($0.42) per share for the current financial year, with EPS estimates ranging from ($0.62) to ($0.25). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.04) per share, with EPS estimates ranging from ($0.27) to $0.08. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for GoPro.

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GoPro (NASDAQ:GPRO) last released its earnings results on Thursday, February 1st. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.75). GoPro had a negative return on equity of 40.56% and a negative net margin of 15.50%. The business had revenue of $334.80 million during the quarter, compared to analysts’ expectations of $340.19 million. During the same quarter in the previous year, the business earned $0.29 EPS. The business’s revenue for the quarter was down 38.1% on a year-over-year basis.

A number of analysts have weighed in on GPRO shares. Longbow Research lowered GoPro from a “buy” rating to a “neutral” rating and increased their target price for the stock from $7.16 to $13.00 in a research note on Monday, January 8th. JPMorgan Chase set a $9.00 target price on GoPro and gave the stock a “buy” rating in a research note on Monday, January 8th. Dougherty & Co restated a “sell” rating and set a $4.00 price target (down previously from $7.00) on shares of GoPro in a research note on Tuesday, January 9th. Citigroup cut their price target on GoPro to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 9th. Finally, Wedbush restated a “neutral” rating and set a $6.00 price target (down previously from $10.50) on shares of GoPro in a research note on Tuesday, January 9th. Four analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. GoPro presently has a consensus rating of “Hold” and an average target price of $7.71.

In related news, CFO Brian Mcgee sold 11,124 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $5.65, for a total transaction of $62,850.60. Following the sale, the chief financial officer now owns 71,958 shares of the company’s stock, valued at $406,562.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Sharon S. Zezima sold 14,966 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $5.60, for a total value of $83,809.60. The disclosure for this sale can be found here. Company insiders own 28.58% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Creative Planning boosted its position in GoPro by 11.7% during the fourth quarter. Creative Planning now owns 77,142 shares of the company’s stock valued at $584,000 after purchasing an additional 8,104 shares in the last quarter. Bank of New York Mellon Corp boosted its position in GoPro by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 418,781 shares of the company’s stock valued at $3,171,000 after purchasing an additional 10,890 shares in the last quarter. North Star Investment Management Corp. boosted its position in GoPro by 226.6% during the fourth quarter. North Star Investment Management Corp. now owns 16,575 shares of the company’s stock valued at $125,000 after purchasing an additional 11,500 shares in the last quarter. Fred Alger Management Inc. boosted its position in GoPro by 1.3% during the fourth quarter. Fred Alger Management Inc. now owns 873,943 shares of the company’s stock valued at $6,616,000 after purchasing an additional 11,560 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in GoPro during the third quarter valued at about $139,000. 26.00% of the stock is currently owned by institutional investors.

GPRO stock opened at $5.22 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.55. GoPro has a twelve month low of $4.42 and a twelve month high of $11.89. The firm has a market capitalization of $768.93, a price-to-earnings ratio of -4.96 and a beta of 0.20.

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GoPro Company Profile

GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.

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