BEST Inc (BSTI) Expected to Announce Quarterly Sales of $1.05 Billion

Equities research analysts forecast that BEST Inc (NYSE:BSTI) will post sales of $1.05 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for BEST’s earnings. The lowest sales estimate is $1.03 billion and the highest is $1.07 billion. The company is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that BEST will report full-year sales of $4.03 billion for the current year, with estimates ranging from $3.92 billion to $4.14 billion. For the next fiscal year, analysts forecast that the company will report sales of $5.26 billion, with estimates ranging from $5.05 billion to $5.62 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow BEST.

BEST (NYSE:BSTI) last issued its quarterly earnings results on Wednesday, August 8th. The company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.12 billion.

BSTI has been the topic of a number of recent analyst reports. Zacks Investment Research cut BEST from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. KeyCorp decreased their target price on BEST from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, July 19th. JPMorgan Chase & Co. decreased their target price on BEST from $14.80 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 10th. Finally, Macquarie upgraded BEST from a “neutral” rating to an “outperform” rating and set a $8.00 target price on the stock in a research report on Wednesday, September 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $11.40.

A number of institutional investors have recently added to or reduced their stakes in the business. OppenheimerFunds Inc. bought a new position in BEST in the second quarter valued at about $87,381,000. Tiger Pacific Capital LP grew its position in BEST by 75.2% in the second quarter. Tiger Pacific Capital LP now owns 4,581,042 shares of the company’s stock valued at $55,980,000 after acquiring an additional 1,966,188 shares during the last quarter. FMR LLC grew its position in BEST by 1.0% in the second quarter. FMR LLC now owns 2,387,000 shares of the company’s stock valued at $29,170,000 after acquiring an additional 23,600 shares during the last quarter. WIM Asset Management HK Ltd grew its position in BEST by 10.2% in the third quarter. WIM Asset Management HK Ltd now owns 2,092,285 shares of the company’s stock valued at $12,386,000 after acquiring an additional 194,314 shares during the last quarter. Finally, Pendal Group Ltd grew its position in BEST by 108.5% in the second quarter. Pendal Group Ltd now owns 985,361 shares of the company’s stock valued at $12,041,000 after acquiring an additional 512,789 shares during the last quarter. Hedge funds and other institutional investors own 18.54% of the company’s stock.

Shares of NYSE BSTI opened at $5.33 on Thursday. BEST has a 52 week low of $4.67 and a 52 week high of $13.54. The firm has a market capitalization of $2.18 billion and a P/E ratio of -4.17.

About BEST

BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.

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